Shringar Cinemas' revenue up by 57% at Rs 61 crore in 2005-06

Kolkata, May 27 (UNI) Shringar Cinemas Ltd today registered a revenue growth of 57 per cent at Rs 61 crores in 2005-06 compared to Rs 39 crore last year.

The company release said here today that the consolidated revenues for the quarter ended on March 31 has increased by 13 per cent at Rs 15 crores compared to Rs 13 crores during the corresponding period last year.

Net loss of the company also dropped significantly to Rs 35 lakhs against a loss of Rs 1.4 crores last year.

Announcing the results, Managing Director of the company Shravan Shroff said, ''We are very pleased with the results and are confident about our strategy of focusing on the exhibition business.'' He said,''Our objective is to focus on cost optimisation and pursue aggressive growth in some of the key towns and cities which would improve our margins and market share.'' Shringar Cinemas is currently on an expansion mode, the release said. It would increase the number of multiplexes to 47 with 51,000 seats over the next three years from the existing level of five.

The first amongst these would open in Pimpri, Pune on May 28, 2006.

Shringar Cinemas Ltd is listed on Bombay Stock Exchange and National Stock Exchange.

The company has launched a state-of-the-art five screen multiplex 'FAME Adlabs' in Mumbai. A four-screen FAME multiplex in Kolkata was opened in December 2005.

By the end of this year, Fame would extend its presence in Thane, Dadar and Ghatkopar (Mumbai), Chandigarh, Aurangabad, Hyderabad , Kolkata and Surat. Fame has redefined the movie-viewing experience for cinema lovers and has catalysed the growth of the multiplex industry across India.

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