PVR net up 112% for FY08

New Delhi, Jun 2 (UNI) Leading film exhibition company PVR Ltd today said its net profit grew 112 per cent during the year ended March 2008 due to strong operational performance coupled with significant growth in occupancy, ticket and Food and Beverage (F&B) pricing.

The company's net profit stood at Rs 21.62 crores in FY08 from Rs 10.19 crores in the previous fiscal.

The revenue jumped 49 per cent to Rs 272.30 crores from Rs 183.11 crores in the said period.

For the fourth quarter ended March 2008, the company's net profit increased 23 per cent to 2.7 crore against Rs 2.2 crores during the corresponding quarter of previous year.

The revenue grew 34 per cent to Rs 56.82 crores from 42.40 crore in the said period.

During the quarter, PVR expanded its presence in Lifestyle Retail Entertainment landscape by entering into a joint venture (JV) with Thailand-based leading film exhibition and retail entertainment company Major Cineplex Group.

The JV would set-up bowling alleys, karaoke centers, ice skating rinks in and around the company's multiplexes, it said in a statement.

The company is setting up its first project, a 24-lane Bowling Alley Center at Ambience Mall in Gurgaon.

Since March 31st 2007, the company has added 29 screens across the country.

UNI MP SR BST1842