MAM
PVR announces results for the Quarter and Half-year Ended Sep 30, 2018
MUMBAI: PVR Limited today announced its audited standalone and consolidated financial results for the quarter ended 30th September, 2018
Consolidated revenues for quarter ended September, 2018 were Rs. 715 crores as compared to Rs. 560 crores during the corresponding period of last year, witnessing a robust growth of 28 per cent led by a 25% growth in admissions. Consolidated EBITDA for the quarter was Rs. 130 crores as against Rs. 96 crores in the same period last year, a growth of 36%. EBITDA margins for the quarter increased by 110 bps to 18.2%. Consolidated PAT for the quarter was Rs. 33 crores as compared to Rs. 25 crores during the corresponding period of last year, a growth of 31%.
The revenues for half-year ended September 2018 were Rs. 1,415 crores as compared to Rs. 1,213 crores during the corresponding period of last year, witnessing a growth of 17 per cent. Consolidated EBITDA for the half-year was Rs. 272 crores as against Rs. 227 crores in the same period last year, witnessing a growth of 20%. EBITDA margins for the half-year increased by 50 bps at 19.2%. Consolidated PAT for the half-year was Rs. 85 crores as compared to Rs. 70 crores during the corresponding period of last year, a growth of 22%.
During the current financial year, PVR added 34 new screens across 7 properties and now operates a network of 727 screens spread over 156 properties in 61 cities across the country. The company intends to add 99 screens in FY 18-19.
During this quarter, PVR completed acquisition of majority stake in SPI Cinemas, one of the largest cinema exhibitor in South India with presence in key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala and Mumbai. SPI Cinemas has a network of 76 screens (72 operational & 4 expected to commence operations soon) across 17 properties & 10 cities. Further during this quarter PVR also renewed its ticketing agreement with BookMyShow and Paytm for 3 years for a total upfront consideration of INR 410 crores.
Commenting on the results and performance, Mr. Ajay Bijli, Chairman cum Managing Director, PVR Ltd said “We are extremely pleased with the business performance in the current quarter with strong all round performance led by strong footfall growth. Our acquisition of SPI Cinemas in the current quarter has further cemented our leadership position in India. Post this acquisition PVR has become 7th largest cinema operator globally, serving over 100 million customers annually.
We will continue to innovate and find newer ways to provide our customers with unparalleled movie watching experience by introducing cutting edge technology, newer cinema formats and innovative customer engagement initiatives. Our introduction of PVR Onyx Screen in PVR ICON, Vasant Kunj, New Delhi, continued focus on building on our loyalty program PVR Privilege, initiatives such as seat cancellations are steps in that direction. We are extremely excited by the growth prospects of our business and will continue to work towards taking the business to the next level.
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Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
