UFO Moviez Q1 net up 8.1% to Rs 8.2 cr

MUMBAI: UFO Moviez India, India’s largest digital cinema distribution network and in-cinema advertising platform, today, announced its financial results for the quarter ended 30th June.

The company’s net profit grew by 8.1% to Rs 8.2 crore from Rs 7.6 crore in the corresponding quarter of the previous fiscal. Profit before tax was higher by 15.3% to Rs 13.5 crore compared to Rs 11.7 crore. EBITDA grew by 2% to Rs 28.9 crore from Rs 28.3 crore.

Consolidated revenue stood at Rs 126.8 crore compared to Rs 134.7 crore. Advertisement revenue stood at Rs 44 crore as against Rs 45.1 crore. Average advertisement minutes sold per show per screen grew to 4.64 minutes from 4.46 minutes during Q1 FY20.

“The fiscal year 2020 started on expected lines with moderate earnings growth in Q1FY20,” said UFO Moviez Joint MD Kapil Agarwal. “We continued to see positive movement in the Corporate advertisement vertical which grew by over 18% Y-o-Y. Government advertisement performance as expected was subdued due to the imposition of the Model Code of Conduct. Looking forward, we remain optimistic about the future as we continue to focus on what is best for our shareholders and all stakeholders.”

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