Mukta Arts Ltd sees Revenue rise on the back of Cinemas Business Growth
Mukta Arts Limited's Cinema business, Mukta A2 Cinemas reported strong earnings for the first quarter of 2017, posting a post-tax profit of 161.53lakhs for the quarter. This was on the back of a strong content pipeline which lifted the exhibition segment and increased margins. The company saw its operating margins grow to 15% which was a substantial improvement over the FY17 and Q417 figure. Revenues are also up to Rs 24 cr. this quarter, almost doubling from Rs.12cr at the same time last year. These figures of course do not include the benefit of GST that should help the business in the further 3 quarters of this financial year.
The company's results included limited reviews of this major subsidiary as well as Whistling Woods International for the first time this quarter which will help shareholders better understand the business of the conglomerate. Whistling Woods International showed Rs 192lakhs loss in the quarter because of the admission cycle of the school which takes in students in July. This July the company has taken in its largest ever batch, pushing student numbers to almost 1000. Revenue for the company increased from Rs.5.4 cr this time last year to Rs. 6.03cr this year.
On a consolidated basis, the company reported a substantially higher income this quarter, coming in at Rs.33cr. Vs Rs.20cr. for the same period last year. INDAIS accounting adjustments as well as the loss in Whistling Woods International has dragged down the consolidated loss but overall, the company has shown marked improvement in its business this quarter.