INTERVIEW: INOX Leisure to hire 3,000 people as it plans to add 77 new screens

INTERVIEW: INOX Leisure to hire 3,000 people as it plans to add 77 new screens
INOX Leisure to hire 3,000 people as it plans to add 77 new screensINOX
  • INOX Leisure expects to create employment opportunities for 3,000 employees.
  • The company hopes to do so by opening 77 new screens across India in the FY2023.
  • The movie theater company added 32 screens in fiscal year 2022 that ended in March.
Movie theater company INOX Leisure expects to hire 3,000 employees as it plans to open 77 new screens this financial year.

It plans to open them in Delhi, Lucknow, Hyderabad, Mysore, Visakhapatnam and more, the company’s CEO Alok Tandon told Business Insider India.

“Apart from direct employment, we also give a lot of employment to the people who supply us with ancillary items. On an average, in a four-screen-plex we have about 70-80 people. Now when I talk about having 77 screens, we will be employing roughly about 1,500-2,000 people directly and thousands of people indirectly,” Tandon explained.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
The indirect employment includes people who supply INOX with food, chairs, mechanical equipment, projectors, lights and more. “So, 1,000 would be over and above our direct employment,” he added.

This is good news since the month of May has seen many layoffs and experts expect 60,000 people working at startups to lose their jobs. While jobs in the IT sector are expected to be safe, the paycheck may reduce.


Multi-screen theaters and new properties

Tandon elaborated that the company plans to launch four new theaters in Delhi with 14 screens; a theater in Lucknow with 10 screens; two new properties in Hyderabad with 9 screens and many more.

The company hopes these additions will help increase their total footfalls. It currently manages 692 screens at 163 properties in 73 cities. “It is difficult to say how much the footfalls will increase,” he added.

INOX reported a revenue of ₹705.7 crore in the fiscal year 2022, while its net loss was at ₹239 crore. The company — which added 32 screens in FY22 — reported 23 million footfalls throughout the year. Of which, 11 million came only in the last quarter that ended in March 2022.

RIL, Maruti Suzuki, Tata Motors, Bajaj Auto among stock to watch out for on June 2
Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts
Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India