19 Jun 2006
Inox to expand cinemas throughout India
BY Helen Patenall
Mumbai-based multiplex operator Inox Leisure has announced plans to increase its portfolio from 11 to 23 cinema sites in the next 26 months at a cost of £16.6m (Rs1.4bn, US$30.6m, 24.2m euro)
Darjeeling, Jaipur and Jodhpur are among the 16 Indian cities due to receive new cinemas.
For the year ended 31 March 2006, Inox reported a 117 per cent annual increase in net profit from £971,000 (Rs82m, US$1.8m, 1.4m euro) to £2m (Rs175.4m, US$3.8m, 3m euro).
Total income also rose during the same period from £12.9m (Rs1bn, US$23.9m, 18.9m euro) to £7.5m (Rs637.6m, US$13.9m, 11m euro) – a 71 per cent increase. Details: www.inoxmovies.com
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