scorecardAnimal, Salaar help PVR INOX post Q3 revenue at over Rs 15,000 crore
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Animal, Salaar help PVR INOX post Q3 revenue at over Rs 15,000 crore

Animal, Salaar help PVR INOX post Q3 revenue at over Rs 15,000 crore
Business2 min read
India's largest cinema exhibitor, PVR INOX, on Wednesday reported a consolidated net profit of Rs 12.8 crore in the third quarter of the current fiscal. The company, earlier known as PVR Ltd, posted a net profit of Rs 165 crore in the October-December period a year ago, according to a regulatory filing.

Its revenue from operations stood at Rs 1,545.9 crore in the second quarter of the current fiscal. In the year-ago period, the same was at Rs 940 crore.

The December quarter results came after the merger of rival Inox into PVR, hence it is not comparable, the company said.

"Consolidated financial results for the quarter and nine months ended December 31, 2023 are not comparable to those reported for quarter and nine months ended December 31, 2022 due to the amalgamation of PVR INOX Limited (formerly known as PVR) with INOX Leisure Ltd with effect from January 1, 2023," it said.

Over the box office performance of the films, PVR Inox said: "December emerged as the highest grossing month of 2023 with stellar performance of films released during the month."

Hindi film 'Animal', which grossed over Rs 650 crore, became a phenomenal success. 'Salaar' grossed Rs 480 crore, 'Dunki' earned Rs 270 crore and Sam Bahadur Rs 110 crore.

Managing Director Ajay Bijli said, "It is really heartening to see that in the year 2023, India stands out as the sole major market worldwide to surpass the pre-pandemic peak in box office collections."

For the upcoming months, PVR Inox has a line up of movie releases which includes 'Teri Baaton Main Aisa Uljha Jiya' and 'Article 370' in February. 'Yodha', 'Laapataa Ladies' and 'The Crew' are coming in March.

Similarly from South, it has a line up of some big films in February like 'Lal Salaam' in Tamil starring Rajinikanth, and 'Eagle' in Telugu starring Ravi Teja.

While from Hollywood, the line up includes 'Argylle' and 'Madame Web' in February; 'Dune Part 2', 'Kung Fu Panda 4' and 'Arthur the King' in March.

Shares of PVR INOX Ltd settled at Rs 1,455 on the BSE on Wednesday, down 0.47% from previous close.

PVR INOX's total expenses in December were at Rs 1,587.2 crore.

Its total income in the December quarter was Rs 1,604.7 crore.

During the quarter, the company recorded 3.65 crore admissions with an ATP (average ticket price) of Rs 271, registering a 14% growth year on year, PVR Inox said an earnings statement.

The SPH (spend per head) was Rs 132 in the December quarter, up 8% year on year.

"This led to a 14% increase in ticket sales, an 8% rise in food & beverage sales, and a 23% boost in ad sales when compared to pro forma figures from Q3 FY23," it added.

During the quarter, PVR INOX added 29 new screens by openings in 7 cinemas during the quarter.

Currently, PVR Inox screen portfolio includes 1,712 screens spread across 113 cities in India and Sri Lanka.