PVR Q1 net up at Rs 6 cr

NEW DELHI: Entertainment company PVR posted a consolidated net profit of Rs 5.56 crore for the quarter ended June 30, 2010.

This is against a net loss of Rs 12.62 crore in the year-ago period.

"We have had a decent quarter compared to last year, which had been affected by strike. Though there was an impact of the IPL matches in this quarter, but still we managed to perform decently," PVR Chief Financial Officer Nitin Sood said.

For this year, we expect the performance to continue as we have a good content pipeline ahead, he added.

"The content pipeline has been good and we have seen good occupancy rates. Average ticket prices for this quarter are up 20 per cent compared to the same quarter last year," Sood added.

The company's consolidated income stood at Rs 103.11 crore in the latest quarter, compared to Rs 44.56 crore in Q1 FY2009-10.

During the quarter, PVR opened 13 multiplex screens, taking its total screen count to 136.

"This year we plan to add 40-50 new screens, taking the total screen count to more than 180," Sood said.

On a standalone basis, the company's net profit was up at Rs 3.45 crore for Q1 FY2010-11, as against a net loss of Rs 12.08 crore in the corresponding period last fiscal.

While the movie exhibition revenues for the reported quarter stood at Rs 94.85 crore, movie production and distribution comprised Rs 5.34 crore. Bowling alleys contributed Rs 3.82 crore to the revenues for Q1 FY2010-11.