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Multiplex chain PVR Ltd said its consolidated net profit grew nearly 35 per cent to ₹47.88 crore in the quarter ended September 30, driven by strong box office revenue growth. The company had posted a consolidated net profit of ₹35.47 crore in Q2 FY19. In the quarter under review, consolidated revenues grew 37 per cent to ₹979 crore.
Ajay Bijli, CMD of PVR, said: “Despite a general economic slowdown the performance of the business for Q2 FY20 has been robust, supported by strong all-round content performance. We are really excited about the future growth opportunities for screen expansion that India offers and continue to invest significant capital to expand our screen network and provide innovative movie watching experience to our consumers.”
The company said its box office revenues grew 32 per cent, while revenues from food and beverages were up 38 per cent in Q2 FY20.
Over the past six months, PVR has added 42 new screens across eight properties, crossing the 800-screen mark.
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