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Leading multiplex chain PVR reported a decline of 15.12 per cent in consolidated net profit to ₹24.7 crore for the quarter ended September 30, compared with ₹29.1 crore in the corresponding quarter previous fiscal. The company’s consolidated revenues stood at ₹559.5 crore, which was nearly flat (0.32 per cent decline) compared with the corresponding period previous fiscal.
Nitin Sood, CFO, said that this was largely due to lower than expected performance of some movies released at the box office during the quarter, even as the company focussed on cutting costs and driving efficiencies.
He said the company had added 21 screens in the first half of the financial year. The company said that it intended to add 65-70 screens in the FY17-18.
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