F&B, ad revenues help PVR narrow Q4 net loss to Rs 5 lakh

Multiplex chain operator PVR today reported a narrowing of consolidated net loss to Rs 5 lakh for the fourth quarter ended March 31, helped by higher footfall and growth in F&B and advertising revenues.
The company had reported a consolidated net loss of Rs 6.16 crore for the January-March quarter of the previous fiscal, 2015-16, PVR said in a BSE filing.
PVR's total income from operations during the period under review was up 17.82 per cent to Rs 499.68 crore, as against Rs 424.07 crore in the year-ago period.
"It's been a decent quarter considering that Q4 is normally a slower quarter for us because of the examination season and there was no big releases towards the end of this quarter," PVR CFO Nitin Sood told PTI

"Considering this, we have been able to grow our EBITDA by 22 per cent and we were PAT neutral which is good if you look at the corresponding quarter," he added.
During the quarter, PVR's Food and beverage (F&B) revenue grew by 24 per cent and advertisement revenue was up 16 per cent, he added.

"We have a very good footfall growth. Overall admissions was up by 17 per cent and our sales store was up by 7 per cent. F&B and advertising also grew by a very decent rate," Sood added.
Total expenses stood at Rs 493.68 crore, up 15.51 per cent, compared to Rs 427.37 crore in the corresponding period a year ago.

For the entire 2016-17 fiscal, PVR's consolidated net profit stood at Rs 95.79 crore, down 2.36 per cent, from Rs 98.11 crore in the previous financial year.
Total revenue for the last fiscal stood at Rs 2,181.68 crore, up 14.04 per cent, compared to Rs 1,913.04 crore in the previous year.
On outlook, Sood said: "FY 2017-18 is looking to be a good year and we started with a very good note with Bahubali. This quarter has been also very good. Going forward, our Bollywood and Hollywood content pipeline is very strong and there is a great momentum at box office".

PVR, which is presently, operating over 579 screens at 126 properties in 50 cities, would add around 70 screens this fiscal.
"We will be adding 65-70 screens this year. Our overall capex plan for FY 2017-18 is Rs 275 crore, which also includes investment for new screens and refurbishment of the existing screens etc," he said.
Meanwhile, in a separate filing, PVR informed that its board in a meeting held today has approved a dividend of Rs 2 per equity share of face value of Rs 10 for FY 2016-17.
PVR stock was trading at Rs 1,452.20, down 1.24 per cent, on BSE.