The two blockbuster movies, Animal and Salaar, played a major role in boosting the Q3 revenue of PVR and INOX to over Rs 15,000 crore.
During the third quarter of the current fiscal, PVR, INOX, the country’s largest cinema exhibitor, reported a net profit of Rs 12.8 crore. In the October-December period of a year ago, the company, previously known as PVR Ltd, posted a net profit of Rs 165 crore, according to a regulatory filing.
The PVR and INOX revenue from operations in the second quarter of this fiscal was Rs 1,545.9 crore, compared to Rs 940 crore a year ago.
Due to the merger of rival Inox into PVR, the December quarter results are not comparable.
Due to the amalgamation of PVR INOX Limited (formerly known as PVR) with INOX Leisure Ltd on January 1, 2023, the consolidated financial results for the quarter and nine months ended December 31, 2023 cannot be compared to those reported for the quarter and nine months ended December 31, 2022.
As for the box office performance of the films, PVR Inox reported: “December 2023 emerged as the highest grossing month of the year.”
The Hindi film ‘Animal’ grossed over Rs 650 crore, while ‘Salaar’ earned Rs 480 crore, ‘Dunki’ earned Rs 270 crore and Sam Bahadur earned Rs 110 crore.
In 2023, India will be the only major market worldwide to surpass its pre-pandemic peak in box office collections, according to Managing Director Ajay Bijli.
In February, PVR Inox will release ‘Teri Baaton Main Aisa Uljha Jiya’ and ‘Article 370’. In March, it will release ‘Yodha’, ‘Laapataa Ladies’, and ‘The Crew’.
In the South, there will be some big films in February, such as ‘Lal Salaam’ in Tamil starring Rajinikanth and ‘Eagle’ in Telugu starring Ravi Teja.
Hollywood releases include ‘Argylle’ and ‘Madame Web’ in February; ‘Dune Part 2’, ‘Kung Fu Panda 4’ and ‘Arthur the King’ in March.
PVR INOX Ltd shares closed at Rs 1,455 on Wednesday, down 0.47%.
In December, PVR INOX spent Rs 1,587.2 crore on expenses.
The company earned Rs 1,604.7 crore in the December quarter.
In the quarter, PVR Inox recorded 3.65 crore admissions with an ATP (average ticket price) of Rs 271, registering a 14% growth year over year.
SPH (spend per head) was Rs 132 in the December quarter, an increase of 8%.
In comparison with pro forma figures for Q3 FY23, ticket sales increased by 14%, food and beverage sales increased by 8%, and ad sales increased by 23%.
During the quarter, PVR INOX opened 29 new screens in 7 cinemas.
There are currently 1,712 screens spread across 113 cities in India and Sri Lanka in the PVR Inox screen portfolio.
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