MUMBAI, Aug. 13, 2019 /PRNewswire/ — Mukta Arts Limited, one of India’s leading entertainment exhibition and education company, today announced the financial results for the first quarter ended on June 30, 2019, as approved by its Board of Directors.
Consolidated revenue for Q1 FY20 grew 40% y-o-y; from INR 34.1 crores to INR 47.9 crores. EBITDA for the quarter was INR 7.2 crore, up from INR 1.9 crore while PAT at INR 1.2 crore as against the loss of INR 3.1 crore during the corresponding quarter of FY19.
Whistling Woods International, a Mukta Arts’ subsidiary in the education business posted a turnover of INR 12.2 crores in the first quarter up from INR 7.5 in the previous period. Total number of students as on June 30, 2019 was 1043 as compared to 950 at the end of first quarter of FY19.
The subsidiaries in the cinema space, operating under the Mukta A2 brand in India and Bahrain, posted a consolidated turnover of INR 24.6 crores with total screen count increasing from 58 to 65. Mukta A2 Cinemas, a subsidiary in the exhibition business posted a 14% y-o-y growth in Q1 FY20 with revenues at INR 20 crores. EBITDA for the quarter was at INR 1.5 crore. Mukta A2 added 7 new screens during the quarter and its total count as on June 30, 2019 stands at 65 screens, including 6 in Bahrain and 10 under its JV with Asian Cinemas.
Commenting on its performance, Rahul Puri, Managing Director, Mukta Arts said, “Recently, we launched our new property Orion Mukta A2 Cinemas, located at Santacruz. Mumbai. The launch took place on 2nd August, 2019. With an existing chain of iconic heritage properties across Mumbai that includes New Excelsior Cinema, Jai Hind, Topiwala and Sun City Mukta A2 Cinemas will now be looking after the operations of Orion Mukta A2 Cinemas too.”
About Mukta Arts Limited
Mukta Arts Limited is one of India’s leading production houses with business interests across the entertainment spectrum from Exhibition to Education. The company has a library of over 35 hit films and has a brand that is globally recognized with quality and entertainment. Mukta Arts has successfully diversified its business into other areas of the film industry. The company has a thriving Distribution and Programming business, Mukta Movies Distributors, which has offices across India and has most of the major multiplex chains as partners. The company runs its own chain of Multiplex theatres under Mukta A2 Cinemas. These cinemas operate on an innovative model and focuses on delivering quality to patrons. The company has opened one of Asia’s largest and best Film, Television, Animation and Media School – Whistling Woods International, that continues to create its reputation of high-quality education worldwide.
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