PVR Ltd net profit up 46%, revenues up 52% for FY06

New Delhi, May 15 (UNI) Entertainment major PVR Ltd today reported a 46 per cent increase in its net profit at Rs 5.48 crore for the year ended March 31, 2006, as against Rs 3.74 crore for the corresponding period last year.

The company's total revenues for the year ended March 31, 2006 stood at Rs 107.43 crore, up 52 per cent from the same period last year.

Commenting on the results, PVR Ltd CMD Ajay Bijli said, ''We are happy with our performance. We catered to about 8.78 million customers in our cinemas during the current year, and are set to tap the emerging potential in the entertainment industry.'' On expansion plans, Mr Bijli said, ''PVR will be coming up with new cinema projects and expand film distribution business&technological upgradation in order to redefine the paradigms in the industry. The impact of the growth funded from the IPO proceeds shall be felt in the 2008, when we expect to see a healthy increase in revenues.

During the year, PVR Ltd commenced operations at PVR Panchgutta - Hyderabad, PVR Rivoli - Delhi and Spice PVR - Noida, adding 12 new screens to their existing 51 by March 2006.

In addition, the company also commenced operations at 3 new multiplex properties at Juhu - Mumbai, Indore and Lucknow during the month of April 2006, further adding 11 more screens.

At present, the company has 62 screens across the country spread over Delhi, Haryana, Karnataka, Uttar Pradesh, Andhra Pradesh, Maharashtra and Madhya Pradesh Around 60 multiplex screens are presently under various stages of construction and fit-outs and are expected to commence operations over next 12 months.

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