PVR net profit up by 27% in Q2
PVR limited has posted jump of 275 in its second-quarter net profit over the previous year, showing growth signs in the exhibition business while it remained almost idle in film production.
The company, which faced losses in the starting of the year is finally on the recovering track as the profit for second quarter is Rs 64.4 million for the three months ended September, as against Rs 50.5 million a year ago.
Total expenses in the quarter fell to Rs 806 million. PVR's total income fell 15.11 per cent in the quarter to Rs 922.2 million (from Rs 1.09 billion), mainly because of less activity in its movie production and distribution segment.
The multiplexes are now recovering from the rough patch. The tiff between film producers and multiplex owners halted film releases and multiplexes landed in loss in the first quarter.
PVR has 108 screens and 27,890 seats spread across 14 cities.
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