PVR’s Q1 show driven by pricier tickets and blockbusters
- 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.
AdvertisementIndian 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.
|Particulars||April-June 2022||April-June 2021|
|Total Revenue||₹1,002 crore||₹93 crore|
|EBITDA||₹362 crore||-₹58 crore|
|Net Profit||₹53 crore||-₹220 crore|
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.
|Movie||Net box office earning in India||Net 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.
AdvertisementBrahmastra, 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:
|Shamshera||July 22, 2022|
|Paws of Fury: The Legend of Hank||July 22, 2022|
|Thank You||July 28, 2022|
|Vikrant Rona||July 28, 2022|
|Ek Villain Returns||July 29, 2022|
|Bullet Train||August 5, 2022|
|Laal Singh Chaddha||August 11, 2022|
|Raksha Bandhan||August 11, 2022|
|Agent||August 12, 2022|
|Thiruchitrambalam||August 18, 2022|
|Nope||August 19, 2022|
|Liger||August 25, 2022|
|Beast||September 2, 2022|
|Yaar Mera Titliyaan Warga||September 2, 2022|
|Brahmastra Part One: Shiva||September 9, 2022|
|The Women King||September 16, 2022|
|Dhokha Round D Corner||September 23, 2022|
|Vikram Vedha||September 30, 2022|
|Ponniyin Selvan||September 30, 2022|
|Godfather||October 5, 2022|
|The Ghost||October 5, 2022|
|Mr and Mrs Mahi||October 7, 2022|
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