Highlights of the call by Capital Mkt
For the quarter, the company has reported 19% growth in consolidated net operating revenues at Rs 474.6crore. The net profit increased by 405% to Rs 41.13 crore.The consolidated net box office collection was up by 20% to Rs 274.55 crore on back of number of hits like Bajrangi Bhaijaan, Baahubali, Welcome Back, Drishyam and MI Rogue Nation.For the quarter, footfalls increased by 14% at 173 lakh in comparable properties, with total footfalls of 188 lakh, which is up by 20%. Occupancy ratio for increased from 32% to 37%.For the quarter, Average Ticket Price (ATP) increased by 4% at Rs 188 in comparable properties and including non-comparable properties total ATP was up by 3% to Rs 187.
The net F&B revenue increased by 32% to Rs 119.59 crore. Spend per head (SPH) on F&B increased by 10% at Rs 69 in comparable properties. Including non-comparable properties SPH was at Rs 68, which is up by 9%.In F&B, growth was consistent. Cost down because of looking for more combo sales, beverages sales were more, better supply chain managed, raw material price managed better, and reduction of wastage. Going forward, the mgmt said that COGS at 25-26% level is manageable.
Advertisement revenue has grown by 13% to Rs 46.13 crore.
Advertisement revenue growth weak in comparable properties in Q2, as the quarter is normally slow. Q3 is most important quarter due to festive season. Also Q2 had lot of regional films, which impacted ad revenue.
The mgmt expects 10-15% ad revenue growth for FY16.The company has opened 13 screens in Q2. The mgmt said that 29 screens are ready, waiting for licenses. 22 screens will open in Q3. Looking for 67 screens to open in FY16. Looking at opening 70-80 screens every year for next 3 years.
In Q2, regional films contributed 29% in term of revenue and hollywood 15-16%. Baahubali is one of the reason for rise in regional film contribution.
E-tax on gross box office has increased from 23% to 26.7% and on net box office from 18.7% to 21.1%.
The company was not able to pass on entire tax in Delhi to customers.
Rental cost inflation – 12-15% goes up for every 3 year.Employee cost is 8.5% of sales on annualized basis.DT cinema matter is pending with CCI.
The mgmt said that October had good content with films like Singh is Bling, Pyaar ka Panchnama 2 and Talvar. The mgmt sees good content pipeline from November 2015 – February 2016.Tax rate will be 22% for FY16.
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