Mumbai, August 11, 2021: Mukta Arts Limited, India’s leading entertainment exhibition and education company, today announced the financial results for quarter ended on June 30, 2021, as approved by its Board of Directors.
Mukta Arts Limited reported Standalone revenue of Rs 6.20 crores and an EBITDA of 3.59 crores at a margin of 58%.
Whistling Woods International, a Mukta Arts’ subsidiary in the education business posted a turnover of INR 11.01 crores in the first quarter. Total number of students enrolled currently stands at about 1200, with a new batch intake currently ongoing.
Mukta A2 Cinemas, a subsidiary in the exhibition business posted a revenue of INR 3.23 crore during the quarter. Affected by the second wave, 18 screens across properties were operational before the lockdown but had to close down in the month of April following government orders.
Following updated guidelines, from August 9th, 5 screens are now operational at Karim Nagar & Vizag.
Consolidated revenue for Q1 FY22 was INR 18.37 crores. Consolidated EBITDA for the quarter was INR 4.86 crore which is 26% of revenue while PAT was at INR (2.62) crore. Cash PAT for the quarter was INR 1.73 crore.
As part of our 3 movie deal with Zee Studios, Mukta Arts has concluded production of the first movie in July 2021. It is a Hindi comedy drama with working title “36 Farmhouse”, written by Subhash Ghai and directed by Ram Ramesh Sharma.
Commenting on its performance, Rahul Puri, Managing Director, Mukta Arts said, “It has been a difficult time for the company with the pandemic affecting the cinema business, but we are hopeful with the 2nd wave abetting, soon cinema admissions will pick up. Whistling Woods continues to provide quality education to its students over the virtual platform and admissions for the new session are robust. We are pleased to complete our new film’s shooting and are looking forward to its release in the next few months”.