Moneycontrol Bureau
Entertainment company Inox Leisure has registered solid growth in its July-September quarter earnings. Consolidated net profit jumped four-fold to Rs 20.5 crore compared to Rs 5.2 crore in year-ago period, driven by strong revenue growth & operational performance and other income & lower finance cost despite high tax cost. However, on sequential basis, profit declined 18.8 percent and EBITDA dropped 13.8 percent.
Revenue rose by 33.6 percent (up 2 percent Q-o-Q) to Rs 355.4 crore in quarter ended September 2015 compared to Rs 266 crore in corresponding quarter of last fiscal.
Operating profit (earnings before interest, tax, depreciation and amortisation - EBITDA) shot up 54.4 percent year-on-year to Rs 56.5 crore and margin has seen expansion of 210 basis points at 15.9 percent in the quarter gone by.
The subsidiary of Gujarat Fluorochemicals said its finance cost in September quarter dropped 45.8 percent to Rs 6.18 crore compared to year-ago period. Long term borrowings during the quarter stood at Rs 189.42, declined 5.5 percent compared to Rs 200.51 crore at the end of March 2015.
Other income nearly doubled to Rs 1.41 crore in second quarter of FY16 against Rs 0.74 crore in same quarter last year while tax expenses surged 7.67 times to Rs 11.5 crore against Rs 1.5 crore during the same period. At 15:27 hours IST, the scrip of INOX Leisure was quoting at Rs 242.65, down Rs 26.75, or 9.93 percent after hitting a 52-week high of Rs 276.30 on the BSE.
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