On Thursday, Multiplex operator PVR Ltd reported a net profit of Rs 68.3 crore (India-AS adjusted) for June 2022. Its revenue rose to Rs 1,000.4 crore, while EBITDA in the first quarter was Rs 208 crore. For fiscal 2023, the EBITDA margin for the April-June period was 20.3%.

The company returned to profitability after reporting losses in previous quarters due to the severe impact of the country’s coronavirus-induced lockdown.

As the pandemic impacted business, the company disclosed figures comparable to pre-pandemic Q1FY20, when net profit was Rs 44.2 crore on revenue of Rs 8.87 crore, compared to previous EBITDA (net of interest, tax, depreciation and amortisation) of Rs 165.5 crore in the first quarter of fiscal 2020.

PVR shared its screen outlook for FY23, saying it is on track to open 125 screens this financial year. Currently, 14 screens of 3 real estates have been opened, and 82 screens of 9 new towns have not yet settled down. Most properties will open in the third and fourth quarters.

Shares of PVR rose after the first-quarter announcement, up nearly 3% in afternoon trade on the BSE. Shares of PVR are up more than 44% in 2022 (year-to-date).

On March 27 this year, PVR and INOX Leisure announced a merger deal that will create the nation’s most prominent movie theatre chain with more than 1,500 screens, opening movie theatres in third-, fourth-, and fifth-tier cities outside developed markets. Chance.

The combined entity will be named PVR INOX Ltd, and the existing screens will continue to be named PVR and INOX, respectively. The new cinema will be named PVR INOX after the merger, the companies said on March 27.

The merger of PVR and Inox will create a diversified giant with a network of more than 1,500 screens in India. According to the agreement, the swap ratio is 3:10, that is, three shares of PVR for ten shares of Inox. After the merger, the board will be restructured and have ten members. The two promoter families will have equal representation on board, with two seats each.