PVR Q2 net profit at Rs 27.66 crore

PTI Posted online: Wednesday, Oct 30, 2013 at 0000 hrs
New Delhi : Multiplex chain operator PVR Ltd today reported a consolidated net profit at Rs 27.66 crore for the second quarter ended September 30.

The company had posted a consolidated net profit of Rs 16.14 crore in the same quarter previous fiscal, PVR said in a filing to the BSE.

Net sales during the period under review stood at Rs 363.11 crore, while in the same period last year it was Rs 192.12 crore, it added.

The result of this year is not comparable with that of last fiscal due to the acquisition of Cinemax India in the March '13 quarter, the company said.

In January this year, PVR had announced to acquire 69.27 per cent stake from the promoter group of Cinemax in an all cash consideration of Rs 395 crore through its subsidiary Cine Hospitality.

For the half year ended September 30, the company's net profit stood at Rs 41.62 crore and the same for the year-ago period was Rs 23.95 crore.

Net sales for the first half of the fiscal was at Rs 697.56 crore, while in the year-ago period it was Rs 370.74 crore.

Shares of PVR Ltd were trading at Rs 558 per scrip in the afternoon trade, up 7.07 per cent from the previous close on the BSE.