Mumbai: UFO Moviez India Limited, India’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens, today, announced its financial results for the quarter and half year ended September 30, 2015.
During the quarter, total consolidated revenues grew 17.7% to Rs.1,497 (Q2FY15 – Rs.1,272) million. EBITDA increased 11.8% to Rs.463 (Q2FY15 – Rs.414) million. PBT grew 26.6% to Rs.239 (Q2FY15 – Rs.189) million. PAT higher 26.5% to Rs.165 (Q2FY15 – Rs.130) million.
In H1FY16, total consolidated revenues rose 20.2% to Rs.2,802 (H1FY15 – Rs.2,331) million. EBITDA grew 12.4% to Rs.868 (H1FY15 – Rs.773) million. PBT increased 33.5% to Rs.421 (H1FY15 – Rs.316) million. PAT grew 41.4% to Rs.297 (H1FY15 – Rs.210) million. Advertisement revenue grew 37.8% to Rs.707 (H1FY15 – Rs.513) million. The average number of advertisement minutes sold per show per screen increased to 3.83 (H1FY15 – 2.92) minutes. The Company’s financial position improved with Net Debt/EBITDA moving to 0.13x as on September 30, 2015 (March 31, 2015 – 0.32x).
“I am very pleased with UFO’s operating and financial performance during the first half of fiscal year 2016,” said Sanjay Gaikwad, Founder and Managing Director. “We delivered strong growth in revenues driven by E Cinema VPF, sale of products and increase in advertisement volumes. Advertisement revenue growth was aided by increased stability due to repeat business from some of the top corporate clients. The benefits of operating leverage are also evident, combined with higher margins in advertising and strong balance sheet position, which has enhanced the overall profitability of the Company.”
“We are confident in our ability to deliver the targets we have set for the full year,” said Kapil Agarwal, Joint Managing Director. “A healthy pipeline of movies in the second half offers strong visibility for growth. The prospect of growth in the advertising business looks promising. The expansion of Caravan Talkies is also progressing as per plan and we expect this business to begin contributing meaningfully at an operating level soon. In summary, we have a very well-established platform to leverage on and a strong set of plans to deliver growth.”