UFO Moviez Reports Q2FY18 Results
Advertisement Revenue stood at ₹372 Mn
PAT stood at ₹113 Mn
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, 2017.
Financial Highlights:
Quarter ended September 30, 2017
Consolidated revenues stood at ₹1,392 (Q2FY17 – ₹1,601) million. EBITDA stood at ₹378 (Q2FY17 – ₹559) million. PBT stood at ₹184 (Q2FY17 – ₹308) million and PAT stood at ₹113 (Q2FY17 – ₹200) million.
Advertisement revenue stood at ₹372 (Q2FY17 – ₹517) million. Average advertisement minutes sold per show per screen stood at 3.52 (Q2FY17 – 5.15) minutes during Q2FY18.
Half Year ended September 30, 2017
Consolidated revenues stood at ₹2,936 (H1FY17 – ₹2,954) million. EBITDA stood at ₹786 (H1FY17 – ₹930) million, PBT stood at ₹395 (H1FY17 – ₹440) million and PAT stood ₹250 (H1FY17 – ₹275) million.
Advertisement stood at ₹865 (H1FY17 – ₹914) million. Average advertisement minutes sold per show per screen stood at 4.15 (H1FY17 – 4.52) minutes during H1FY18.
“The last twelve months have been extremely challenging for the entire industry on account of one-off events like demonetization and implementation of GST, especially the media sector which was most severely impacted,” saidSanjay Gaikwad, Founder and Managing Director. “Q2FY18 was one of our toughest quarters, advertisement revenues declined sharply on a high base of last year combined with slowdown in Government advertisement spends. Nevertheless, we continue to remain extremely positive about the long-term growth prospects of the advertising business. We are hopeful that demand will pick up in few months. Temporary slowdown has failed to deter us and we remain focused on achieving our long-term strategic goals by entering into a Scheme of Arrangement and Amalgamation with Qube Cinema Technologies Pvt. Ltd. We believe that this consolidation will further strengthen our position to capitalize on growth opportunities as the economy revives and gains steam.”