With the increase in the number of screens, he said in the next three years "people watching movies at our theatres will rise to 100 million from 75 million today".
"Long-term focus is to build organically and expand our network beyond big cities to look at tier III and tier IV", Nitin Sood, CFO of PVR told CNBC-TV18.
The multiplex chain operator, PVR, reported a 20.76 percent fall in consolidated net profit at Rs 23.89 crore and the company‘s CFO, Nitin Sood, says the box office sales were impacted due to demonetization.
Revenue growth during the first quarter has been aided by 6-7 percent growth in average ticket price to Rs 193, said PVR CFO Nitin Sood in an interview to CNBC-TV18.
PVR will cross 600 screens in the coming year, apart from DT Cinema, says Nitin Sood CFO of the company.
With Hollywood‘s two big movies-- Spectre and Star Wars-- releasing with those of Salman Khan, Shahruk Khan, Ranbir Kapoor and Shahid Kapoor‘s, the year looks promising, says Nitin Sood, CFO of PVR.
However, net sales during fiscal 2014-15 were at Rs 1,477.12 crore, up 9.56 percent, against Rs 1,348.11 crore a year ago.
However, net sales during fiscal 2014-15 were at Rs 1,477.12 crore, up 9.56 percent, against Rs 1,348.11 crore a year ago.
In an interview to CNBC-TV18, CMD Ajay Bijli and CFO Nitin Sood spoke about the company‘s performance in the quarter ended December and the outlook going ahead.
In an interview with CNBC-TV18, Nitin Sood CFO, PVR said that the company's bottom-line was affected due to a one-time exceptional charge of Rs 21 crore. However, the operating EBITDA for the fourth quarter of FY12 has seen strong growth, said Sood.
PVR Limited acquired remaining 40% stake from JPMorgan and India Advantage Fund of PVR Pictures. In an interview with CNBC-TV18, Nitin Sood, CFO of PVR said that they paid a total of Rs 60 crore to complete the buyout. Sood explained that the company’s main focus is to roll out the exhibition projects across the country.