Shringar Cinemas revenues rises by 102% at Rs15.42cr

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Shringar Cinemas revenues rises by 102% at Rs15.42cr

Shringar Cinemas total revenues for Q3 FY07 rises by 102% at Rs 15.42 crores

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Shringar Cinemas Limited., one of the country's leading movie exhibition and distribution companies, today announced its un-audited financial results for the quarter ended December 31, 2006. The Company has continued to post sterling financial performance with tremendous growth in profitability and revenues by reporting a net profit of Rs. 3.64 crores as against a net loss of Rs. 1.99 crores during the same period last year. Total revenues rose by 102% year-on-year at Rs. 15.42 crores against Rs. 7.66 crores. The Company's operating profit grew to Rs. 3.19 crores as compared to operating loss of 0.52 crores.

The Company's performance was commendable as it posted a net profit of Rs. 3.64 crores in Q3 FY07 as compared to a net profit of Rs. 3.91 crores in the first six months of FY07.

The Company's operating profit margin boosted to 21% in Q3 FY07 compared to 20% (Q2 FY07) on sequential quarter basis. This is the second consecutive quarter where the Company has sustained its operating profit margin above 20%. During the quarter under review, the Company's strong performance was backed by better content and solid performance by new multiplexes spread across the country.

The Company opened 3 new properties namely FAME Nakshatra (Dadar) and Thakur FAME (Kandivali) in Mumbai and FAME Aurangabad in Q3 FY07. Currently, the Company operates 10 properties with 36 screens. During Q3 FY07, the Company enjoyed the full benefit of the E-Tax exemption received for FAME Raghuleela (Kandivali) in September' 06. FAME Jai Ganesh (Pune) received the E-Tax exemption in January 2007 and the benefit will accrue in the current quarter (Q4 FY07). 

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