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Business News/ Companies / Company Results/  PVR Inox Q2 Results: Multiplex reports net profit of 166 crore; revenue jumps 53% QoQ

PVR Inox Q2 Results: Multiplex reports net profit of ₹166 crore; revenue jumps 53% QoQ

Ebitda rose to ₹706.8 crore from ₹353 crore in the previous quarter, while the Ebitda margin improved by a huge 830 basis points to 35.3% from from 27% in Q1

PVR INOX merger became effective from February 6, 2023.Premium
PVR INOX merger became effective from February 6, 2023.

PVR Inox, the multiplex chain operator, on Thursday reported a net profit of 166.3 crore for the second quarter of FY24 as compared to a loss of 82 crore in the first quarter of this fiscal. The company’s revenue in Q2 jumped 53.3% to 1,999.9 crore from 1,305 crore in Q1.

The highlight of the quarter was the record-breaking performance of Hindi movies. 'Jawan' and 'Gadar 2' ranked amongst the highest-grossing Hindi films of all time, amassing over 750 crore and 620 crores respectively at the box office, PVR Inox said.

Among Hollywood films, 'Oppenheimer' and 'Mission Impossible: Dead Reckoning Part 1' grossed over 150 crore and 130 crore in India, the company added.

Also Read: Nestle India Q3 Results: Net profit rises 37% YoY; board approves 140 dividend; 1:10 stock split

The PVR-Inox merger took effect on February 6, 2023.

“Following our recent merger, we have been diligently working to realize the full potential of this strategic union. We are pleased to report that the integration process has been progressing seamlessly, yielding substantial operational efficiencies," PVR Inox said in a press statement.

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Earnings before interest, tax, depreciation and amortization (Ebitda) during the quarter rose to 706.8 crore from 353 crore sequentially, while the Ebitda margin improved by a huge 830 basis points (bps) QoQ from 27% to 35.3%.

The company said it reported highest ever box office collection of all time during the quarter and is on track to be free cash flow positive for FY24.

Its average ticket price (ATP) in the September quarter was highest ever at 276, while F&B spend per head was at 136. Footfalls rose 64% to 48.4 million from 29.6 million, YoY.

The company is on track to open 160 new screens (68 already opened) in FY24. As on date PVR INOX operates 358 cinemas with 1,702 screens across 115 cities. 

Moreover, led by substantial free cash flow generation, the company successfully reduced its net debt by 327.6 crore in H1FY24. 

At 1:30 pm, PVR Inox share price was trading 1.05% lower at 1,755.05 apiece on the BSE.

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Published: 19 Oct 2023, 01:14 PM IST
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