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, Relian