PVR reports 5% fall in net profit to Rs 29.10 crore

NEW DELHI: PVR on Thursday reported a 5 per cent fall in net profit to Rs 29.10 crore for the September quarter. The multiplex operator had reported a profit of Rs 30.60 crore in the corresponding quarter last year.

Sales for the quarter stood at Rs 541 crore, the company said, up 16.3 per cent YoY over Rs 465 crore sales it reported for the same quarter last year.

Ebitda for the quarter came in at Rs 93.50 crore against Rs 87.60 crore in the corresponding quarter last year. Margins, meanwhile, contracted to 17.3 per cent for the quarter from 18.8 per cent in the September quarter of 2015.

Edelweiss Securities in a recent report had said that despite seeing healthy Box Office collections, movies such as Sultan, Kabali, Pink and Rustom failed to match the success of Bahubali and Bajrangi Bhaijaan released in the September quarter last year.

“Performance of Hollywood movies was muted as well— Ice Age: Collision Course, Jason Bourne and Suicide Squad failed to generate interest. This is likely to dent performance of the multiplexes,” the brokerages had said.