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PVR has reported Q1 net up at Rs 58 crore

The movie theatre chain PVR Ltd has reported a very high jump in its consolidated net profit at Rs 58.05 crore for the quarter ended June 30, 2015 on account of higher sales.

It said in a BSE filing that the company had reported a consolidated net profit of Rs 7.66 crore for the April-June quarter of the last fiscal.

PVR is also planning to raise Rs 500 crore by issuing non convertible debentures (NCDs) and Rs 350 crore through allotment of shares to Plenty CI Fund I Ltd, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Ltd on preferential basis.

The company in a separate filing said that its Board has approved “issue of non convertible debentures for a sum not exceeding Rs 500 crore subject to approval by the members of the company in the forthcoming Annual General Meeting”.

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