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Last Updated : Oct 26, 2018 10:20 AM IST | Source: Moneycontrol.com

PVR down 2.5% even as Q2 profit rises 33%; Axis Capital maintains buy call

The brokerage house further said that footfall growth is aiding operating performance.

 
 
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Shares of PVR are down over 2.5 percent even as the company posted a 33 percent rise in its net profit for the September quarter.

The company said that its profit rose 33.5 percent (year-on-year) for the September quarter at Rs 33.02 crore. The company had reported a profit of Rs 25.17 crore during the corresponding quarter of last year.

Its revenue rose 28 percent at Rs 708.5 crore for the quarter under review against Rs 555.3 crore that it posted in Q2 of FY18.

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At an operating level, the company posted an earnings before interest, taxes, depreciation and amortaisation of Rs 124 crore for the quarter, a rise of 35.6 percent year on year from Rs 91.5 crore last year.

Meanwhile, the EBITDA margin has been reported at 17.5 percent, up 1 percentage point from 16.5 percent in the previous year

Axis Capital has maintained its buy call on the stock with a target at Rs 1,530. The brokerage house further said that footfall growth is aiding operating performance.

It also highlighted that the firm expects SPH growth to be subdued in FY19 and recover in FY20. The research firm also expects operating leverage benefits to aid its operational show. The brokerage house also highlighted the firm’s maintained guidance of 90 screen additions in FY19.

At 10:13 hrs PVR was quoting at Rs 1,256.40, down Rs 27.70, or 2.16 percent, on the BSE.

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First Published on Oct 26, 2018 10:15 am
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