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PVR Q2 profit surges 35% YoY to Rs 48 crore, beats analyst estimates

Analysts in an ETNow poll had projected net profit of Rs 31 crore.

ETMarkets.com|
Last Updated: Oct 17, 2019, 01.20 PM IST
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PVR-1---BCCL
Consolidated revenue jumped 37.35 per cent YoY to Rs 973.18 crore in Q2FY20 over Rs 708.55 crore in Q2FY19.
NEW DELHI: PVR on Thursday reported a 34.98 per cent year-on-year (YoY) rise in consolidated net profit at Rs 47.88 crore for the quarter ended September 2019. It had posted net profit of Rs 35.47 crore in the corresponding quarter last year.

Analysts in an ETNow poll had projected net profit of Rs 31 crore.

Consolidated revenue jumped 37.35 per cent YoY to Rs 973.18 crore in Q2FY20 over Rs 708.55 crore in Q2FY19.

Shares of the multiplex chain operator were trading 1.46 per cent higher at Rs 1,846.20 after the announcement of corporate earnings.

Consolidated expenditure increased 37.41 per cent YoY to Rs 905.75 crore during the quarter under review, against Rs 659.14 crore in the same period last year. The jump in expenditure can be attributed to 20 per cent, 34 per cent and 36 per cent YoY rise in movie exhibition cost, consumption of food and beverages and employee benefits expenses, respectively. Finance cost increased by over 3.5 times YoY to Rs 111.13 crore in the September quarter.
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