PVR reports 35 pc jump in Q2 profit at Rs 48 crore

Multiplex cinema operator PVR Ltd on Thursday reported 35 per cent year-on-year jump in its consolidated net profit at Rs 47.8 crore for the second quarter of current financial year.

India's largest film exhibition company had posted a net profit of Rs 35.47 crore in the July to September quarter of last year.

The consolidated revenue jumped 37.4 per cent to Rs 973.2 crore in Q2 FY20 over Rs 708.5 crore in Q2 FY19. Earnings before interest, taxes, depreciation and amortisation (EBITDA) worked out to Rs 318 crore

The expenditure increased by 37.4 per cent to Rs 905.7 crore against Rs 659.14 crore in the same period last year. The jump was due to rising movie exhibition cost, consumption of food and beverages, and employee benefits expenses.

PVR has organised its operations into three business segments: movie exhibition, movie production and distribution & others. It operates a cinema circuit of 800 screens at 170 properties in 69 cities (21 states and union territories).

In August 2018, the company had announced acquisition of 71.69 per cent stake in SPI Cinemas for about Rs 633 crore in an all-cash deal. It acquired Cinemax in 2012 and took over DT Cinemas in the year 2016.

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