PVR posts blockbuster Q1; net soars 680%, revenue jumps

Moneycontrol Bureau

Buoyed up by blockbuster films like Tanu Weds Manu Returns, Avengers, Fast & Furious, Piku and Dil Dhadakne Do PVR has posted its highest ever quarterly profit in April-June quarter. The company's consolidated net profit rose 680 percent to Rs 58.5 crore in the quarter ended June 30, 2015 from Rs 7.7 crore in year-ago period.

During the quarter, its total income also jumped 34.14 percent at Rs 486 crore against Rs 362.3 crore in corresponding quarter last fiscal. Margins were at 23.1 percent from Rs 15.1 percent on an annual basis.

This is much better than street estimates. As per a CNBC-TV18 poll, PVR's Q1 net profit was seen rising by a whopping 416 percent to Rs 39.7 crore while topline was expected to rise 21.7 percent at Rs 441 crore year-on-year.Meanwhile, the board has approved issue of non-convertible debentures for a sum not exceeding Rs 500 crore subject to approval by the members of the company. The board has also given nod for allotment of 50,00,000 equity shares at Rs 700 per share of face value Rs 10 each equity share at a premium of Rs 690 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I.  At 13:39 hrs PVR was quoting at Rs 854.95, up Rs 38.95, or 4.77 percent.