NEW DELHI: Cinema multiplex chain PVR has registered a net profit of Rs 2.7 crore for the last quarter ended March 31, 2008, a growth of 23 per cent compared to the same period last year.
In the fourth quarter of 2007-08, the company had recorded profit of Rs 2.2 crore.
The company's revenues for the quarter ended March 31, grew 14 per cent to Rs 56.82 crore and EBITDA grew 14 per cent at Rs 9.59 crore, a statement said.
For the year ended March 31, the company's net profit grew over two-fold to Rs 21.62 crore, compared to Rs 10.19 crore in the previous year.
The revenues for financial year 2007-08 increased by 49 per cent to Rs 272.30 crore from Rs 183.11 crore in the previous fiscal.
"The company has continued to show promising growth in its revenues and profits, driven by growth in existing cinemas as well growth from new cinemas. We served around 18 million patrons during this year, against 14.73 million patrons served during previous year," PVR Chairman and Managing Director Ajay Bijli said.
According to PVR the main factor behind the growth has been strong operational performance across the cinema circuit marked with significant rise in occupancy, ticket and food and beverages pricing.
Since March 31, 2007, PVR has added 29 screens in Baroda, Ludhiana, Delhi (Saket), Goregaon and Gurgaon. PVR, at present, operates a total of 24 cinemas with 97 screens spread over 13 cities, namely Delhi, Gurgaon, Ghaziabad, Mumbai, Ludhiana, Baroda, Bangalore, Aurangabad among others.
