The Hindu Business Line : INOX net rises 6% in Q4

Mumbai June 18 INOX Leisure Ltd has reported a 5.94 per cent rise in net profit to Rs 4.64 crore for the quarter ended March 31, 2007 as against Rs 4.38 crore the previous fiscal. Total income for the quarter went up 36.05 per cent to Rs 39.17 crore (Rs 28.79 crore).

For the fiscal year 2007, net profit was up 41.33 per cent at Rs 24.79 crore (Rs 17.54 crore). Total income for the full year jumped 48.95 per cent to Rs 162.48 crore (Rs 109.08 crore).

The board of directors has declared a 10 per cent maiden dividend of Re 1 per equity share of Rs 10 face value for the year.

INOX launched five new properties in the financial year 2006-07; INOX Chennai, INOX Jaipur City Plaza, INOX Nagpur, INOX Kota and INOX Darjeeling taking its tally of total screens in operation from 35 to 51. INOX Vijayawada - launched in May 2007 has taken the count up to 54 screens. Footfalls in 2006-07 were up 48 per cent to 92,83,496 against 62,68,669 the year before.

Its proposed merger with CCPL (89 cinemas) will give INOX access to an additional nine multiplexes in West Bengal and Assam over the next two years (of which 2 are already operational). The merger has now been approved by the High Courts of both Gujarat and Kolkata, and is now awaiting completion of some procedural formalities, the company release said.

INOX also has a tie-up with the Pantaloon Group - a partnership that provides INOX preferential access to all real estate developments that Pantaloon is involved in - either for its own retail growth plans, or through the real estate funds it manages. The properties acquired through this alliance will be in addition to the properties that INOX has already locked in on its own. INOX at Milan Mall, Santacruz, Mumbai, will be the first single screen from INOX and the first property launched as a result of this tie up.

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INOX net rises 6% in Q4