 "PVR hits new lifetime high as Q1 profit beats forecast")
Shares of PVR moved higher by 5% to Rs 855, their new lifetime high on the NSE, after the company reported a better-than-expected eight-fold jump in consolidated net profit at Rs 58 crore for the quarter ended June 30, 2015 (Q1), on the back of strong operational income.
The multiplex operator had posted a profit of Rs 7.66 crore in the year-ago quarter.
Total operational income of the company for the quarter increased by 34% at Rs 486 crore against Rs 362 crore in the corresponding quarter of previous fiscal.
Analysts on an average had expected a profit of Rs 34 crore on revenues of Rs 443 crore.
Meanwhile, the board approved the allotment of five million equity shares at Rs 700 per share aggregating Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited. The board also approved the scheme of merger of PVR Leisure Limited and Lettuce Entertain You Limited with the company.
At 12:58 PM, the stock was up 3.6% at Rs 844 on the NSE and has seen a combined 1.25 million shares changing hands on the counter on the NSE and BSE.
The multiplex operator had posted a profit of Rs 7.66 crore in the year-ago quarter.
Total operational income of the company for the quarter increased by 34% at Rs 486 crore against Rs 362 crore in the corresponding quarter of previous fiscal.
Analysts on an average had expected a profit of Rs 34 crore on revenues of Rs 443 crore.
Meanwhile, the board approved the allotment of five million equity shares at Rs 700 per share aggregating Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited. The board also approved the scheme of merger of PVR Leisure Limited and Lettuce Entertain You Limited with the company.
At 12:58 PM, the stock was up 3.6% at Rs 844 on the NSE and has seen a combined 1.25 million shares changing hands on the counter on the NSE and BSE.
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