Cinema exhibitor, PVR Ltd, said on Tuesday that its wholly owned subsidiary PVR Pictures will now onwards focus on film distribution which would enable it to turn profitable in the next 18 months.

PVR Ltd is already in the process of merging the film production business of PVR Pictures with itself.

“After the merger of production business of PVR pictures with PVR Ltd, PVR Pictures will focus solely on film distribution and we expect it to become profitable in the next 18 months,” PVR Ltd CFO, Mr Nitin Sood, told PTI.

Commenting on the merger of PVR Pictures’ production business with PVR, Mr Sood said : “We have decided to go slow on film production and focus on film exhibition and distribution.”

While PVR Ltd will continue to deal in cinema exhibition, PVR Pictures will manage film distribution.

“The production business under PVR Pictures had been registering losses, so we have decided not to carry on with it aggressively,” Mr Sood added.

For the quarter ended June 30, 2011, the company’s production and distribution business registered loss of Rs 4.58 crore.

Over a period of time the company will device a new strategy for the distribution business, he added.

Last month PVR had bought out JP Morgan Mauritius Holdings and India Advantage Fund from PVR Pictures for an undisclosed amount.

PVR Ltd had acquired 40 per stake held by JP Morgan Mauritius Holding and ICICI Venture’s India Advantage Fund in equal proportion making PVR Pictures its wholly—owned subsidiary.

The movies co—produced by PVR Pictures include Taare Zameen Par, Jaane Tu Ya Jaane Na, Contract and Mere Khwabon Mein Jo Aaye.

Movies distributed by PVR Pictures include Ghajini, Golmaal Returns, Sarkar Raj, Aviator, Chicago and Don.

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