MUMBAI: Multiplex operator Cinemax India has posted a net profit of Rs 10.9 million for the three months ended 30 June, a turnaround from a net loss of Rs 5.8 million in the year ago period.
Income from operations rose 106.47 per cent to Rs 523.2 million during the quarter under review, compared to Rs 253.4 million a year ago. The main reason behind last fiscal’s poor performance was no movie releases because of strike.
Total expenditure surged 56.1 per cent to Rs 438.8 million, as against Rs 277.9 million. Profit before tax (PBT) stood at Rs 5.9 million, as against a loss of Rs 90 million from the year ago period.
The company at present has 28 properties with 91 screens while it plans to open 10 more properties this fiscal with 38 screens.
Cinemax earned a revenue of Rs 507.3 million from theatrical exhibition and entertainment, as compared to Rs 240.9 million a year ago. It posted an operating profit of Rs 10.8 million (from operating loss of Rs 86 million) in the quarter. Capital deployed in the segment was Rs 1.89 billion.
