ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

PVR's net profit plunges to Rs 16 crore due to rising expenses

New Delhi [India], July 26 (ANI): Multiplex cinema operator PVR Limited's consolidated net profit fell to Rs 16.18 crore on revenue of Rs 880.39 crore in the April to June quarter over Q1 FY19.

ANI Jul 26, 2019 13:56 IST googleads

PVR operates 785 screens in 67 cities across India

New Delhi [India], July 26 (ANI): Multiplex cinema operator PVR Limited's consolidated net profit fell to Rs 16.18 crore on revenue of Rs 880.39 crore in the April to June quarter over Q1 FY19.
The company had posted a net profit of Rs 52.15 crore for the same quarter a year ago. Its total income during Q1 FY20 stood at Rs 887.16 crore as compared to Rs 700.53 crore in the year-ago period.
Significantly, PVR's total expenses in the June quarter stood at Rs 859 crore, up from Rs 771 crore in January to March quarter and Rs 620 crore in the April to June quarter of 2018.
This includes an amount of Rs 9.71 crore due to accounting adjustment made pursuant to Ind AS-115 for income received in advance with respect to long-term agreement signed by the PVR and SPI Cinemas with online ticketing aggregators.
PVR said the results for this quarter are not comparable with the June quarter of the previous fiscal due to acquisition of south India-based SPI Cinemas. In August 2018, PVR had announced acquisition of 71.69 per cent stake in SPI Cinemas for about Rs 633 crore in an all-cash deal.
The company acquired Cinemax in 2012 and taken over DT Cinemas in the year 2016.
PVR now operates 785 screens in 67 cities across the country and ranks as the largest film exhibition company in India.
It has organised its operations into three business segments: movie exhibition, movie production and distribution & others.

(ANI)

Get the App

What to Read Next

Business

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Pune (Maharashtra) [India], March 12: Car insurance renewal is often seen as a routine administrative task, but it is much more than that. It presents an excellent opportunity to review your existing policy, assess whether your coverage still matches your needs, and take steps to optimise your premium. By understanding the key factors that influence car insurance costs, such as vehicle value, driving history, add-ons, and usage patterns, you can make informed adjustments that reduce expenses without compromising protection. Thoughtful planning and small, strategic choices at renewal can help you save money, maintain comprehensive coverage, and enjoy greater peace of mind on the road.

Read More
Business

Hong Leong Islamic Bank Enters New Era as "HLB Islamic"

Hong Leong Islamic Bank Enters New Era as

Kuala Lumpur [Malaysia], March 12: As a strategic move to refresh and strengthen its core vision, Hong Leong Islamic Bank ("HLB Islamic" or the "Bank") is transitioning to a refreshed consumer-facing brand identity, now known as HLB Islamic, and a strengthened core proposition that approaches financial services not as a series of siloed products and transactions, but as total wealth stewardship through a Shariah-principle-guided life-cycle approach known as Hayat @ HLB Islamic. This evolution is rooted in the Bank's new philosophy, 'Timeless Principles Guiding Tomorrow's Wealth', introduced during its 20th anniversary last December to signal a new chapter in wealth stewardship.

Read More
Business

Fractal unveils intelligent sales agents to accelerate B2B growth

Fractal unveils intelligent sales agents to accelerate B2B growth

Mumbai (Maharashtra) [India], March 11: Fractal (www.fractal.ai), a publicly listed global enterprise AI company serving Fortune 500® organizations, launched new intelligent agents within Flyfish.ai (www.flyfish.ai), its AI-native revenue acceleration platform built to reimagine how modern revenue teams operate, compete, and win. The upgraded platform brings together more than 35 coordinated AI agents that work across the entire sales lifecycle, from researching accounts and identifying buying signals to drafting personalized outreach and maintaining accurate pipelines in real time.

Read More
Business

Dynamic Entrepreneurs Driving Meaningful Growth

Dynamic Entrepreneurs Driving Meaningful Growth

New Delhi [India], March 11: In today's rapidly evolving business landscape, a new generation of entrepreneurs is emerging with ideas that go beyond profit to create meaningful impact. These dynamic leaders are not only building successful enterprises but are also redefining industries through innovation, resilience, and purpose-driven strategies. From embracing technology to addressing real-world challenges, they are shaping businesses that contribute to economic growth while delivering value to society.

Read More
Business

TruBridge Launches Chennai Global Capability Center (GCC)

TruBridge Launches Chennai Global Capability Center (GCC)

Chennai (Tamil Nadu) [India], March 11: TruBridge, a healthcare solutions company focused on EHR-agnostic Revenue Cycle Management (RCM) solutions and acute care technology for community and rural hospitals, today launched its GCC in Chennai, powered by Zinnov. The new center marks a strategic milestone in the TruBridge global growth journey, aimed at scaling operational excellence, advancing healthcare technology innovation, and strengthening financial outcomes for healthcare providers.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.