The Economic Times - Mumbai, 10/18/2019 Cropped page Page: 9

CCI NG 3.7 Product: ETMumbaiBS PubDate: 18-10-2019 Zone: MumbaiCity Edition: 1 Page: ETMCPG9 User: sandesh.pingale Time: 10-17-2019 22:19 Color: CMYK

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STATEMENT OF UNAUDITED STANDAIONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2019( i n lakhs , except per share data)

STANDALONE CONSOLIDATED

Quarter ended Six months ended Year ended Quarter ended Six months ended Year ended

S. Particulars 30.09 .2019 30 .09.2018 30 .09.2019 30 .09.2018 31 .03.2019 30.09.201 9 30 .09.201 8 30.09.2019 30.09.2018 31.03.2019No.

Unaudited Unaudited Unaudited Unaudited Audited" Unaudited Unaudited Unaudited Unaudited Audited"

1 Total Income from operations 92,357 70,463 1,79,767 1,38,899 3,07 ,085 97 ,940 71,465 1,86,656 1,41,518 3,11,870

2 Net Profit before tax 7,393 5,473 10,178 13,139 29,837 7,349 5,536 10,145 13 ,571 29 ,903

3 Net Profit after tax 4,862 3,517 6,628 8,487 19,009 4,767 3,539 6,520 8,743 18 ,940

4 Total Comprehensive Income[comprising Net Profit (after tax) and OtherComprehensive Income/(expense) (af tertax)1 4,336 3,090 5,807 7,631 17,757 4,253 3,118 5,700 7,908 17 ,684

5 Paid-up equity share capital (face value of ' 10 each) 4,838 4,674 4,838 4,674 4,674 4,838 4,674 4,838 4,674 4,674

6 Paid-up value of Non-Convertible Debentures 45,300 59,800 45,300 59,800 52,000 45,300 59,800 45,300 59,800 52 ,000

7 Other equity as shown in the Audited Balance Sheet as at 1,42,898 1,44,895

8 Earning per share on net profit after tax(full y paid up equity share of ' 10 each)

(a) Basic Earning Per share 10.32 7.53 14.10 18.16 40.67 10.17 7.59 13.93 18.75 40.62

(b) Diluted Earning Per share 10.00 7.33 13.63 17.89 39.58 9.84 7.38 13.45 18.47 39.52

Notes to the Statement of unaudited Financial results for the quarter and Six months ended September 30, 2019: "Refer note 3

1 The above is an extract of the detailed format of quarter and six months ended September 30, 2019 Financial results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations , 2015. These financial results are available on BSE Ltd website (URL:www .bseindia.com/corporates), National Stock Exchange of India Limited website (URL: www .nseindia .com/corporates) and on the Company 's website(URL: https://www.pvrcinemas.com/corporate).

2 The above Unaudited Financials results for the quarter and Six months ended September 30, 2019 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 17, 2019 . TheStatutory Auditors of the Company have carried out review of the above financial results pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015, asmodified by Circular No. CIR/CFD/FAC/62/2016 dated July 05, 2016 (herein after referred to as "the Listing Regulations , 2015) and an unmodified report has been issued.

3 The Hon'ble Princi pal Bench of The National Company Law Tribunal at New Delhi vide its Order dated August 23, 2019 has approved the Scheme of Amal gamation ("Scheme ") between the Company, SPI Cinemas Private Limited ("SPI")and their respective shareholders and creditors , under Sections 230 to 232 and other app licable provisions , if any, of the Companies Act , 2013 and the rules and regulations framed thereunder , effective from the appointed date of August17 , 2018 . With effect from the appointed date and upon the Scheme becoming eff ective , entire business of SPI including its assets , properties , rights, benefits , interests and liabilities has been transferred to and vested in the Company,as a going concern.

The Company has given effect to the accounting treatment in the books of accounts as per acquisition method per Indian Accounting Standard (Ind AS) 103 "Business Combinations ", as prescribed by Section 133 of the Companies Act ,2013 . Consequentl y, the standalone and consolidated financial results for the year ended March 31, 2019, quarter ended June 30, 2019 and quarter ended and six months ended September 30, 2018 , which were earlier approved by theBoard of Directors at their meetings held on May 10, 2019 , July 25, 2019 and October 25, 2018 respectively have been represented only to give effect to the Scheme .Further, during the current quarter, the Company has issued and allotted 15,99,974 equity shares to S S Theatres LIP (SPI shareholder) in accordance with the Scheme .

4 With effect from April 1, 2019, the Group has adopted Ind AS 116 , 'Leases ' retrospectively with the cumulative effect of initially applying the standard , recognised as an adjustment to the opening balance of retained earnings as on thedate of initial app lication (April 1, 2019). Accordingly, the Group is not required to restate the comparative information for the year ended March 31 , 2019, quarter and six months ended September 30, 2018 .On April 1, 2019, the Group has recognised, a lease liability amounting to Rs 327 ,453 lakhs measured at the present value of the remaining lease payments and Rig ht-of-Use (ROU) asset amounting to Rs 249 ,262 at its carry ing amountas if the standard had been app lied since the lease commencement date , but discounted using the lessee 's incremental borrowing rate as at April 1, 2019. This has resulted in an adjustment to the opening balance of retained earningsamounting to Rs 50,868 lakhs (net of deferred taxes amounting to Rs 27,323 lakhs).

The major impact of adopting Ind AS 116 on the standalone and consolidated financial results for the quarter ended September 30 , 2019 is as follows:

Quarter ended September 30, 2019 Six months ended September 30, 2019

Profit before tax Amount (without Changes due to adoption of Amount as reported Amount (without Changes due to adoption of Amount as reportedadoption of Ind AS 116 ) Ind AS 116 [Increase/(decrease )] (with adoption of Ind AS 116 ) adoption of Ind AS 116 ) Ind AS 116 [Increase/(decrease)] (with adoption of Ind AS 116) C

Standalone 10 ,207 (2 , 814) 7,393 17,095 (6 ,917) 10,178

Consolidated 10,162 (2, 814) 7,349 17,061 (6,916) 10,145

5 Disclosure pursuant to Regulation 54 (2) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015, are available on BSE and Company' s website.6 Results for the quarter and six months ended September 30, 2019 are not strictly comparable with quarter and six months ended September 30, 2018 on account of adoption of Ind AS 116 'Leases ' and acquisition of SPI Cinemas Private Limited.

For & on behalf of the Board of Directors of PVR LIMITEDsd/-

Place: Gurugram Ajay BijliDate: October 17, 2019 Chairman cum Managing Director

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