Multiplex major PVR Ltd sailed through the demonetisation of high value currency notes in the third quarter of financial Year 2017 through discounts and promotions to customers.

In a press statement the company said that it has reported a 13 per cent growth in advertising revenues and an 11 per cent increase in the average spend per person on food and beverages from ₹74 to ₹83. The consolidated revenues for the quarter stood at ₹540 crore, 6 per cent higher than the revenues in the corresponding quarter last year.

PVR has added 55 screens during the current financial year, the company said.

Chairman and Managing Director, Ajay Bijli, said: “Despite a challenging short-term disruption caused by demonetisation, the company has managed to post a decent growth in all revenues. The recent success of films like Dangal, Raees and Kabil has indicated that the bounce back and the recovery have been quick.” PVR intends to surpass the 600-screen mark in the current financial year, according to Bijli. The company currently operates a network of 569 screens over 123 properties.