PVR’s Q1 show driven by pricier tickets and blockbusters

PVR’s Q1 show driven by pricier tickets and blockbusters
PVR’s Q1 show driven by pricier tickets and blockbustersKGF 2
  • PVR has reported its best quarter ever as its revenue, net profit and EBITDA were at an all time high.
  • The average ticket price of PVR also touched an all time high of ₹250 in the last three months, thanks to a strong pipeline of movies.
  • Movies like Brahmastra, Laal Singh Chaddha can also have an impact on PVR’s earnings in next quarters.
Indian multiplex major PVR reported its best quarter ever so far, all thanks to big blockbuster releases like KGF: Chapter 2, RRR, Bhool Bhulaiya 2 and Doctor Strange. The company reported the highest quarterly revenue and net profit in the April to June quarter.

Its revenues crossed ₹1,000 crore for the first time ever in the first quarter of fiscal year 2023, representing nearly 10-fold increase from the revenue reported in the same quarter last year. Its net profit stood at ₹53 crore. It reported a loss of ₹220 crore in the April-June quarter of 2021.

The company’s EBTIDA — earnings before interest, taxes, depreciation and amortization — was also at an all-time high as 2.5 crore people visited its cinemas in the last three months.
ParticularsApril-June 2022April-June 2021
Total Revenue₹1,002 crore ₹93 crore
EBITDA₹362 crore -₹58 crore
Net Profit₹53 crore -₹220 crore
Source: PVR

The company noted that KGF 2’s net box office earning (NBOC) stood at ₹121 crore from PVR alone, while RRR’s was at ₹94 crore.

MovieNet box office earning in IndiaNet box office earning via PVR
KGF2₹859 crore ₹121 crore
RRR₹772 crore ₹93.7 crore
Bhool Bhulaiya 2₹184 crore ₹47 crore
Dr Strange ₹122 crore ₹45.8 crore
Vikram₹241 crore ₹26.6 crore


PVR’s movie tickets only got expensive thanks to a good movie pipeline

The company also recorded the highest ever average ticket price (ATP) of ₹250 for the quarter on the back of global and local releases.

“The quarter was marked by the release of some of the biggest domestic hits like KGF: Chapter 2 , RRR, Vikram, Bhool Bhulaiya 2 and Hollywood tentpoles like Doctor Strange and Top Gun : Maverick which performed exceedingly well at the box office,” PVR said in a statement.

Five brokerage firms — ICICI Securities/Direct, Motilal Oswal, Prabhudas Lilladher and ShareKhan — are of the opinion that a strong movie pipeline can change the fate of movie theater chains like PVR and INOX as they attract strong footfalls.

The release of movies like Kashmir Files, Rajamouli’s RRR, Sanjay Leela Bhansali’s period drama Gangubai Kathiawadi had also brought a lot of charm back to Indian theaters in March, giving them the best month after years of slump. A strong pipeline ahead has made PVR and INOX more hopeful about their future.

Brahmastra, Laal Singh Chaddha —movies that can have an impact on PVR’s earnings in next quarters

“The content pipeline for 2022 in the months ahead looks extremely robust,” PVR said in its statement. The company has listed down the following big budget lineup that can have an impact on its footfall:

ShamsheraJuly 22, 2022
Paws of Fury: The Legend of HankJuly 22, 2022
Thank YouJuly 28, 2022
Vikrant RonaJuly 28, 2022
Ek Villain ReturnsJuly 29, 2022
Bullet TrainAugust 5, 2022
Laal Singh ChaddhaAugust 11, 2022
Raksha BandhanAugust 11, 2022
Agent August 12, 2022
ThiruchitrambalamAugust 18, 2022
NopeAugust 19, 2022
LigerAugust 25, 2022
BeastSeptember 2, 2022
Yaar Mera Titliyaan WargaSeptember 2, 2022
Brahmastra Part One: ShivaSeptember 9, 2022
The Women KingSeptember 16, 2022
Dhokha Round D CornerSeptember 23, 2022
Vikram VedhaSeptember 30, 2022
Ponniyin SelvanSeptember 30, 2022
Godfather October 5, 2022
The GhostOctober 5, 2022
Mr and Mrs MahiOctober 7, 2022

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