Expect strong box office collections to continue in next financial year, says PVR
PVR has posted a near 79 percent jump in its third quarter net profit while revenue surged 51 percent. CNBC-TV18 spoke with Nitin Sood, CFO of the company, about the earnings and business outlook.
PVR has posted a near 79 percent jump in its third quarter net profit while revenue surged 51 percent. CNBC-TV18 spoke with Nitin Sood, CFO of the company, about the earnings and business outlook.
"Box office collections were good in Q3 and the movie pipeline for the fourth quarter is also very strong. So, the strong box office collections should continue in next financial year as well," Sood said on Friday.
"Margins were aided by the recent SPI acquisitions completed in Q2 and SPI Cinema’s average occupancy is around 57 percent."
“On a standalone basis, overall PVR revenues are up 29 percent and EBITDA is up almost 50 percent from last year and EBITDA margins are up 300 basis points from 18 to 21 percent. SPI is currently operating at an EBITDA margin of 22 percent,” said Sood.
Sood said they were on track to open 90 screens for FY19 as guided. So far they have opened 55 screens till date.
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