MAM
PVR announces results for quarter ended june 30, 2019
MUMBAI: PVR Limited today announced its unaudited standalone and consolidated financial results for the quarter ended 30th June, 2019.
The revenues for quarter ended June 2019 were Rs 887 crores as compared to Rs 701 crores during the corresponding period of last year, witnessing a growth of 27 per cent. Consolidated EBITDA for the quarter was Rs 285 crores as against Rs 141 crores in the same period last year, witnessing a growth of 102%. EBITDA margin for the quarter was 32.2%. Consolidated PAT for the quarter was Rs 18 crores as compared to Rs. 52 crores during the corresponding period of last year.
During the current quarter company transitioned to new accounting standard on leases – Ind AS 116. While this accounting standard has no economic impact on the business, there is a material change in the reported financials. Under this new standard company needs to capitalise all operating leases on the Balance Sheet as Right of Use and its corresponding liability as Lease Liabilities. On account of this transition the reported results of Q1 FY 2020 are not comparable to corresponding quarter last year. After adjusting for impact of this new accounting standard the Consolidated Revenue, EBITDA, EBITDA margin and PAT of the company would have been Rs 887 crores, Rs. 165 crores, 18.6% and Rs. 44 crores respectively. This would represent a revenue and EBITDA growth of 27% and 17% respectively.
The box office revenues for the quarter were up by 19% from Rs. 385 crores to Rs 457 crores led by a 19% growth in admits. F&B revenues were up by 29% from Rs 205 crores to Rs 263 crores. Advertising revenues witnessed robust growth of 28% increasing to Rs 92 crores, up from Rs. 72 crores in Q1 last year.
During the current financial year, company has aggressively expanded its presence adding 36 new screens till date across 6 properties and now operates a network of 794 screens spread over 168 properties in 67 cities across the country. The company intends to add a total of 80-100 screens in FY 2019-2020.
Commenting on the results and performance, Mr. Ajay Bijli, Chairman cum Managing Director, PVR Ltd said “We are extremely pleased with the performance of the business for Q1 FY 19-20 with strong all round performance of content at the box office despite two big cricketing events, IPL and World Cup, taking place during the same period. This truly reflects the strength of the cinema as a medium for entertainment, especially during a period when the consumer is spoilt for choice in terms of modes available to him to consume content. This give us conviction to continue with our growth plans and keep innovating to provide a better movie watching experience to our consumers.”
Brands
33 per cent of women believe the salary scale is rigged: Naukri report
Voices @ Work study finds rising calls for equal pay audits and lingering bias
MUMBAI: Progress may be visible in India’s workplaces, but many women still feel the need to tread carefully. A new report by Naukri reveals that one in two women hesitate to disclose marriage or maternity plans during job interviews, worried that such information could influence hiring decisions.
The findings come from the second edition of Naukri’s annual Voices @ Work International Women’s Day report, titled “What Women Professionals Want.” Drawing insights from more than 50,000 women across over 50 industries, the survey sheds light on evolving workplace aspirations alongside the biases that continue to hold women back.
One of the report’s most striking insights is the growing demand for equal pay audits. The share of women calling for regular pay parity checks has climbed to 27 per cent this year, up from 19 per cent a year ago. The demand now stands alongside menstrual leave as the most sought after workplace policy.
Interestingly, the call for pay transparency grows louder higher up the income ladder. Nearly half of women earning between Rs 50 lakh and Rs 1 crore annually say equal pay audits are a priority, suggesting that pay gaps become more visible as women move up the career ladder.
At the same time, confidence and ambition appear to be rising. About 83 per cent of women say they feel encouraged to pursue leadership roles, a significant jump from 66 per cent last year. Cities in southern India appear particularly supportive, with Hyderabad leading the way as 86 per cent of respondents there reported encouragement to step into leadership positions. The education sector recorded the highest sense of encouragement at 87 per cent.
Yet the report also highlights a growing trust deficit around pay equity. Nearly one in three women, or 33 per cent, say they do not believe men and women are paid equally at their workplace. That figure has risen from 25 per cent last year, pointing to widening perceptions of disparity as careers progress.
Bias in hiring and promotions continues to be the biggest hurdle. About 42 per cent of respondents say workplace bias is the main challenge for women from diverse backgrounds. The concern is consistent across major metros, with Chennai and Delhi NCR reporting similar levels.
Reluctance to discuss personal milestones during hiring processes is also widespread. While 34 per cent overall said they hesitate to share marriage or maternity plans in interviews, the anxiety increases with experience. Among professionals with 10 to 15 years of work experience, the figure rises to 40 per cent.
Info Edge group CMO Sumeet Singh, said the data reflects both progress and unfinished work. “Behind every data point in this report is a woman who is ambitious. The fact that 83 per cent feel encouraged to lead is something to celebrate. However, the fact that one in two still hide their marriage or maternity plans in interviews tells us the work is far from done. As India’s leading career platform, it felt not just important but necessary for us to shine a light on these gaps through the second edition of our report,” he said.
The report suggests that while ambition among women professionals is growing, structural changes around pay transparency, fair hiring and supportive policies will be key if workplaces hope to keep pace.
