UFO Moviez reports 23% jump in Q1 revenue

Banner-MoviePosters-Global-UFO-MapUFO Moviez India Limited, India’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens, said its Q1 revenue rose by 23.3% to Rs.1,306 million in Q1FY16.

PBT for the quarter stood at ₹183 million, up 43.8% compared to Rs.127 million in the corresponding quarter last year. The Company’s PAT was up 65.5% to Rs.133 million in Q1FY16 compared to Rs. 80 million, in the year-ago quarter.

During the quarter, the average number of advertisement minutes sold per show per screen increased to 3.81 from 2.13 in Q1FY15. As a result, advertisement revenue grew 87.7% to Rs.363 million in Q1FY16 from Rs. 193 million in Q1FY15. The advertisement revenue per screen (average) stood at Rs.93,098 in Q1FY16 compared to Rs.53,085 in Q1FY15.

“This was a strong start to the fiscal year,” said Sanjay Gaikwad, Founder and Managing Director. “Universal Studios – one of the top 6 Hollywood studios went beyond D-Cinema and released Fast and Furious 7 and Jurassic World on our E-Cinema network. These are the only Hollywood movies to enter the 100 Crore Club in India. This adds confidence and we hope other studios will follow suit and acknowledge our technology and security offering.”

“Our strategy to leverage on our existing infrastructure is generating results,” said Kapil Agarwal, Joint Managing Director. “We recorded strong growth in advertisement revenues during the quarter and marked improvement in the number of advertisement minutes sold per screen per show. Further, we expect that, advertisements will continue to drive the Company’s overall growth going forward.”