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UFO Moviez India Q3 EBITDA up 8.7%

MUMBAI: UFO Moviez India posted operating profit of Rs 47.6 crore (Rs 476 million), up 8.7% from the earlier year.

PBT increased by 33.5% to Rs 27.4 crore (Rs 274 million). Net profit was higher by 24.2% to Rs 19.7 crore (Rs 197 million).

UFO Moviez’s core business revenue improved by 15.8% to Rs 143.7 crore (Rs 1.43 billion). The company’s core business comprises theatrical and in-cinema advertising.

Consolidated revenue improved by 17% to Rs 1.45 crore (Rs 1.45 billion). EBITDA grew by 2.5% to Rs 44.9 crore (Rs 449 million). PBT increased by 15.7% to Rs 23.8 crore (Rs 238 million). Pat grew by 1.1% to Rs 160 (Q3FY15 – Rs 159) million.

The company’s ad revenue grew by 14.8% to Rs 40.6 crore (Rs 406 million). Average ad minutes sold per show per screen increased to 4.36 minutes during the quarter.

Announcement of UFO Framez

The company has said that UFO Framez will be an extension to the existing UFO Moviez in-cinema advertising. It will enable local businesses to reach out to their audience more effectively and economically. Retail advertisers will be able to create, personalise and launch campaigns on local movie screens.

The UFO Framez website will be a one-stop cloud-based advertising technology platform that will enable direct sales associates (DSAs) to set up an advertising campaign instantly and personalise it with the user-friendly interface guiding at every step. It is designed to meet all the essential demands of advertisers such as screen inventory management and campaign management.

“In the third quarter of fiscal 2016, UFO continued to deliver healthy growth in core business revenues and profits. Theatrical revenues sustained healthy momentum led by a rate hike in H1FY16 and wider movie releases during the festival season. In-cinema advertising continued to deliver healthy performance, driven by volume-led sales growth. We launched UFO Framez today by opening registration for DSAs across India. The excitement for UFO Framez is incredible and we believe that in-cinema advertising will get impetus from the retail advertisement opportunity,” said UFO Moviez founder and MD Sanjay Gaikwad.

“We made substantial progress during the quarter operationally as well as strategically. Our focus on leveraging on our existing platform continued to deliver positive results. Simultaneously, we continued to expand our synergistic business Caravan Talkies. We added 67 new vans during the period, expanding our network through 91 districts. This business is expected to cash break even during the second half of fiscal 2017. Overall, we aim to build momentum in both core and new businesses and are excited about the future growth prospects of UFO Moviez,” said joint MD Kapil Agarwal.