PVR posts Rs.58 crore net profit in Q1

New Delhi: Movie theatre chain PVR posted consolidated net profit of Rs.58.05 crore for the April-June (first) quarter of 2015-16, a company filing in the Bombay Stock Exchange said on Wednesday.

It posted profit of Rs.7.66 crore for the corresponding quarter in 2014-15.

The company also plans to raise Rs.500 crore through issue of non-convertible debentures and Rs.350 crore via allotment of shares to some funds on preferential basis.

The company said it will seek permission to issue “Issue non convertible debentures for up to Rs.500 crores subject to approval at the forthcoming annual general meeting.

This will include the allotment of 5,000,000 equity shares at Rs.700 per share of face value Rs.10 each equity share at a premium of Rs.690 per share aggregating to Rs.350 crore on preferential basis to the funds, the company added.