Blockbuster third quarter for multiplexes

-



Back-to-back hits ensure rising revenues for multiplexes.

Varada Bhat

Mumbai, Jan. 29

The smiles are back on the faces of multiplex operators thanks to a buoyant third quarter. This has largely been propelled by a good line-up of movies and higher ticket prices.

Cinemax's net profit increased almost five times to Rs 10.59 crore (Rs 2.05 crore) for the period ending December 31, 2009. Revenue from operations was up 81 per cent to Rs 59.39crore (Rs 32.72 crore).

Inox more than doubled its profit to Rs 8.74 crore (Rs. 3.99 crore) while revenues jumped 29 per cent to Rs. 84.28 crore (Rs. 65.48 crore).

PVR, likewise, reported a higher profit of Rs 7.37 crore (Rs 4.5 crore); its income was up to Rs 114 crore (Rs 88.29 crore).

"The good line-up of movies, be it Hindi, English and regional languages, contributed significantly to our performance." said Mr. Deepak Asher, Director, Inox Leisure.

According to Mr Anil Arjun, Chief Executive Officer, Reliance MediaWorks, this quarter alone saw 16 big releases such as Wake up Sid, Azab Prem ki Ghazab Kahani, Paa and 3 Idiots along with Hollywood fare like Avatar, 2012 and New Moon which led to an increase in footfalls.

"During the first weekend of 3 Idiots, we recorded nine lakh customers across Big Cinemas," he said. The Anil Ambani-promoted multiplex chain has 509 screens across the globe.

Dearer tickets have helped boost revenue with most multiplex operators increasing prices twice by an average of Rs 25-100 during the quarter. Nearly 75 per cent of income comes from ticket sales while food and beverage sales and advertisements make up the rest. Operators are equally upbeat about this quarter with big ticket releases like My Name is Khan, Teen Paati and Kites.

Popular posts from this blog

IOB capitalises on hike in stake by LIC

-
Indian Overseas Bank rose 1.53% to Rs 46.45 at 10:31 IST on BSE, after the biggest domestic instutional investors Life Insurance Corporation of India hiked its stake in the state-run bank. The bank made this announcement after trading hours on Wednesday, 25 March 2009. Meanwhile, the BSE Sensex was up 126.19 points, or 1.31%, to 9,794.09. On BSE, 31,003 shares were traded in the counter. The stock had an average daily volume of 1.93 lakh shares in the past one quarter. The stock hit a high of Rs 47 and a low of Rs 45.95 so far during the day. The stock hit a 52-week high of Rs 156.80 on 2 May 2008 and a 52-week low of Rs 37.55 on 9 March 2009. The mid-cap bank stock had underperformed the market over the past one month till 25 March 2009, falling 3.17% as compared to the Sensex's 8.60% rise. It had also underperformed the market in the past one quarter, declining 33.94% as compared to the Sensex's 1.04% rise. The bank's current equ The current price of ...
Read more

Lok Housing & Constructions builds on fund raising plans

-
Lok Housing & Constructions jumped 6.99% to Rs 107.90 at 11:20 IST on BSE ahead of a board meeting to consider fund raising options from both foreign and local market, including an institutional placement. Meanwhile, the BSE Sensex was down 50.50 points, or 0.30%, at 15203.73. On BSE, 1.86 lakh shares were traded in the counter. The scrip had an average daily volume of 4.74 lakh shares in the past one quarter. The stock hit a high of Rs 115 and a low of Rs 102 so far during the day. The stock had a 52-week high of Rs 390.50 on 1 January 2008 and a 52-week low of Rs 96.25 on 12 June 2008. The scrip had underperformed the market over the past one month till 12 June 2008, falling 26.55% compared to the Sensex's 10.18% decline. It had also underperformed the market in the past one quarter, falling 31.39% compared to Sensex's 3.24% fall. The small-cap housing projects developer has an equity capital of Rs 42.88 crore. Face value per share is Rs 10. The current...
Read more

economic times picks

-
CMP: Rs 70.50 Target Price: Rs 90 CLSA Asia-Pacific Markets maintains an 'outperform' on Jagran Prakashan, with a 12-month price target of Rs 90. "An economic slowdown notwithstanding, improving literacy and income levels in Hindi heartland imply that drivers for Jagran's growth are still in place. With a 35% ad rate hike in 2008, Jagran continues to narrow the gap with its more expensive English rivals," the foreign brokerage said in a client note, after a Q&A reply from the management. "Rising newsprint prices have made Jagran cautious on launching new editions in FY09 and its focus this year will be profitability. While management has budgeted for a minor increase in FY10 newsprint prices, it believes that prices are likely to peak in Q2FY08 and decline thereon," it added. Neyveli Lignite CMP: Rs 117.15 Target Price: Rs 160 MERRILL Lynch has maintained its 'neutral' rating on Neyveli Lignite, with a price target of Rs 160 ...
Read more