PVR's equity capital to increase

New Delhi, Nov 3 (UNI) Multiplex operator PVR will issue 12 lakh equity shares to its promoters, subject to approval from the shareholders, the company announced today.

The issuance will be made, on conversion of 12 lakh warrants into equity shares, to the promoters on preferential basis.

The issue will increase the promoters stake in the company from present level of 40.48 per cent to 43.45 per cent.

Meanwhile, the company has registered net profit growth of 73 per cent at 6.69 crore for the first half of the fiscal as compared to Rs 3.87 crore for the same period last year.

Total revenue grew 60 per cent at Rs 87.8 crore as against Rs 55 crore in the corresponding period previous year.

PVR is the largest multiplex operator in the country with 77 screens operational across 12 cities. About 50 multiplex screens of the company are presently under various stages of construction and fit-outs and are expected to commence operations over next 12 months.

In addition to the above, the company has about 120 screens signed up for multiplex development across the country, that will take the screen count to about 260 in the next three years.

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