Quarter Results Mukta Arts
by Suman Gupta
November 2019, Mumbai: Mukta Arts Consolidated EBITDA margin improves from 15% to 22% quarter on quarter but PBT is impacted by implementation of IndAS 116.
Mukta Arts Limited Standalone Revenue remains stable except for the sale of rights recorded in Q1.
The subsidiaries in the cinema space, operating under the Mukta A2 brand in India and Bahrain, posted a consolidated turnover of Rs 2,643 lacs, up 7% from Q1 with total screen count increasing to 58 while another 10 screens are operating under a joint venture in Telengana and Andhra Pradesh. While EBITDA margins of the subsidiaries improved to 19%, threefold increase in amortisation and finance cost because of implementation of Ind AS 116 resulted in increase in losses before tax from Rs 152 lacs in Q1 to Rs 208 lacs in Q2.
Whistling Woods International, its subsidiary in the education business posted a 20% growth in revenue from Rs 1222 lacs in Q1 to Rs 1470 lacs in Q2. Performance is not comparable with Q2 Year-on-year because the impact of IndAS 115 had only been taken at the year end. However, the entity continues to improve its bottom line with a strong 32% EBITDA margin and 13% PAT margin. Student count has also grown from 1,043 to 1,249.