MUMBAI: UFO Moviez, an in-cinema advertising platform, announced its financial results for the quarter and year ended 31 March 2020.

Financial Highlights:
Quarter ended 31 March 2020 
Consolidated revenue stood at Rs 1,094 (Q4FY19 – Rs 1,939) million. 
EBITDA stood at Rs 275 (Q4FY19 – Rs 656) million. 
PBT stood at Rs 94 (Q4FY19 – Rs 480) million and PAT stood at Rs 68 (Q4FY19 – Rs 335) million.     

Advertisement revenue stood at Rs 302 (Q4FY19 – Rs 805) million. Average advertisement minutes sold per show per screen stood at 3.06 (Q4FY19 – 6.85) minutes.

Year ended 31 March 2020 
Consolidated revenues stood at Rs 5,039 (FY19 – Rs 6,169) million. 
EBITDA stood at Rs 1,194 (FY19 – Rs 1,683) million. PBT stood at Rs 522 (FY19 – Rs 995) million and PAT stood at Rs 388 (FY19 – Rs 665) million. 

Advertisement revenue stood at Rs 1,547 (FY19 – Rs 2,372) million. Average advertisement minutes sold per show per screen stood at 4.16 (FY19 – 5.54) minutes.

“UFO’s advertisement performance during the quarter and full-year was weak primarily on account of lower government spending. Additionally, the shutdown of operations in mid of March due to the Covid2019 pandemic impacted total revenues including corporate advertising. This has severely impacted the overall profitability of the a,” said joint managing director Kapil Agarwal.

He adds, “To conserve cash, we have implemented cost optimisation strategies. The company's liquidity position remains comfortable to sustain during this challenging phase. We are awaiting the government’s decision to reopen cinemas that is likely to take place in the third phase of unlocking based on the situation. Post-re-opening, we expect slow recovery as social distancing will impact cinema footfalls until the situation normalises. However, we are optimistic that UFO will emerge stronger at the end of this crisis.”