Highlights of the call

• For Q2, the consolidated net sales increased by 25% to Rs 50.57 crore while net profit increased by 2% to Rs 2.46 crore.

• For first half, the consolidated net sales increased by 51% to Rs 96.56 crore while net profit increased by 93% to Rs 3.55 crore.

• EBITDA margins for the quarter stood at 15.4% improving 103 bps QoQ and declining 73 bps YoY. The YoY decline was primarily due to higher distributor's share and higher administrative expenses, which grew 32% and 20% YoY, respectively.

• The company rolled out one new property at Ahmedabad with three screens and 657 seats. With this, it ended Q2 with the total count of properties at 29 with total of 94 screens and seating capacity of 24,684.

• The company rolled out two new properties in H1 FY11 and closed one property at Ghatkopar due to issues with the developer.

• Occupancy for Q2FY11 stood at 23% as compared to 22% in Q2FY10 and Q1FY11. Despite good releases during the quarter occupancy remained flat due to a slag period (no good content was released) in September.

• Average Ticket Price (ATP) at Rs 138 remained more or less flat sequentially. However, it improved from Rs 122 in Q2FY10.

• F&B spend stood at Rs 35 as compared to Rs 31 in same period last year.