The multiplex operator PVR has reported a drop of 5.29% in its consolidated net profit to INR 289 million (US$ 4.26 million) for the quarter ended 31 December 2015 compared to INR 315.5 million (US$ 4.65) a year ago. The drop in net profit of PVR was due to a sharp increase in tax expenses.
Net sales of the company in the three-month period ended 31 December 2015 stood at INR 4.99 billion (US$ 66.13 million) which is up by 19.20% compared to INR 4.19 billion (US$ 61.71 million) a year ago. Moreover, PVR’s tax expenses in the third quarter for the fiscal year stood at INR 119.2 million (US$ 1.75 million) compared to INR 3.2 million earlier in the year.
On the other hand, the multiplex operator reported an increase of 14.4% in its total income to arrive at INR 4.55 billion compared to INR 3.97 billion in the same quarter of the previous fiscal year.
In related news, PVR shares were traded at 0.42 per cent down at INR 733.35(US$ 10.79) a piece during yesterday afternoon session on BSE.