- Wealth PMS
PVR – engaged in the business of film exhibition, distribution and production as well as providing in-house advertisement, bowling and gaming alley and restaurant business.
Muted growth in Q2 FY17 (Sultan, Rustom, Pink) against a strong Q2 FY16 (Bajrangi Bhaijaan, Baahubali and Drishyam). Most of the lower belly films (Dishoom, Happy Bhaag Jayegi which competes against Welcome Back and Mission Impossible Rogue Nation) didn’t do well.
Box Office Contribution of Top 5 films stood at 51% in Q2 FY16, while in Q2 FY17 it witnessed a drop to 46%. While the Occupancy was 50% last year, this time it stood at only 40%.
2% drop in attendance i.e. 3 lakhs footfalls, 15% growth in Net Revenues from Rs. 486 crore to Rs. 559 crore, 5% contract in Net Profit to Rs. 29.1 crore from Rs. 30.7 crore. Other Income witnessed a drop of 57% from Rs. 11.41 crore to Rs. 4.86 crore.
At the end of Q2, the company’s screen portfolio stood at 121 properties (against 106), 557 screens (against 474) accommodating 127,520 seats (against 111,763). Footfalls stood at 185 lakhs (against 188 lakhs) and Occupancy rate fell by 5% from 37.1% to 32.1%.
Banking on Diwali and a good pipeline (Shivaay featuring Ajay Devgan) and (Dear Zindagi Alia Bhatt and Shah Rukh Khan) hope to bring it a good set of numbers.
A total of 36 movies are scheduled up to Jan-17 with the company slated to add 13 new screens by the end of Q3 FY17 and another 31 additional screens by the end of Q4 FY17.