PVR Q1 Net up Sevenfold at Rs 58 Crore; Plans to Raise Rs 850 Crore

The company had reported a consolidated net profit of Rs 7.66 crore for the April-June quarter of the last fiscal, it said in a BSE filing.

Published: 22nd July 2015 01:58 PM  |   Last Updated: 22nd July 2015 01:59 PM   |  A+A-

By PTI

NEW DELHI: Movie theater chain PVR Ltd today reported an over sevenfold jump in its consolidated net profit at Rs 58.05 crore for the quarter ended June 30, 2015 on account of higher sales.

The company had reported a consolidated net profit of Rs 7.66 crore for the April-June quarter of the last fiscal, it said in a BSE filing.

PVR also plans to raise Rs 500 crore from issue of non convertible debentures (NCDs) and Rs 350 crore through allotment of shares to Plenty Cl Fund I Ltd, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Ltd on preferential basis.

In a separate filing, the company said its Board has approved "issue of non convertible debentures for a sum not exceeding Rs 500 crore subject to approval by the members of the company in the forthcoming Annual General Meeting".

PVR's Board also approved allotment of 50,00,000 equity shares at Rs 700 per share of face value Rs 10 each equity share at a premium of Rs 690 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I Ltd, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Ltd.

The company's net sales during the first quarter of 2015-16 fiscal stood at Rs 485.36 crore, up 34.09 per cent as against Rs 361.95 crore in the year-ago period.

During the quarter, PVR acquired real estate major DLF's DT Cinemas for Rs 500 crore.

The company's board approved scheme of merger of PVR Leisure Ltd and Lettuce Entertain You Ltd with the company.

Shares of PVR were trading 2.65 per cent up at Rs 837.60 per scrip on BSE during afternoon trade.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp