PVR Inox Q3 Results: Profit zooms 166% YoY to ₹96 crore; revenue up 9%

PVR Inox Q3 Results: Cinema chain operator PVR Inox announced a massive 166.5% year-on-year (YoY) jump in its consolidated net profit for the third quarter of the ongoing fiscal on Thursday, February 5.

The consolidated profit in Q3 FY26 stood at ₹95.7 crore as against ₹35.9 crore a year ago. However, on a quarter-on-quarter (QoQ) basis, the profit after tax (PAT) was lower by 9.4% from ₹105.7 crore posted during the September quarter.

Meanwhile, the revenue from operations on a consolidated basis came in at ₹1,879.8 crore, a growth of 9% as against ₹1,717.3 crore in the corresponding quarter last year. The figure was largely unchanged against ₹1,823 crore posted in the preceding quarter of FY26.

The earnings before interest, tax, depreciation and amortisation (EBITDA), excluding the impact of ₹44.6 crore provision arising from the change in Labour Code, came in at ₹662.1 crore as against ₹569.5 crore a year-ago.

PVR Inox, in a press release, stated that for the second consecutive quarter, the business delivered EBITDA margins of ~18% at occupancies of 28%+, compared to the pre-COVID period when similar margins were achieved at 350–400 bps higher occupancies.

"This underscores the enduring benefits of merger synergies and structural cost optimisation, resulting in a more resilient and efficient operating model," said the company.

The company's performance was supported by a healthier genre mix and a more consistent release slate led by a few large tentpole releases, including Dhurandhar, which has emerged as the highest-grossing Hindi film of all time with a cumulative box office of ₹1,000 crore.

PVR Inox on track to add 90-100 screens in FY26

In Q3 FY26, PVR Inox added 20 screens and exited three underperforming screens, while for the nine months of the fiscal, it added 62 screens (FOCO and asset light) and exited 11 loss-making screens. The company said it remains on track to add 90–100 new screens in FY26.

“Under its Capital Light growth strategy, the company now has 149 screens signed, of which 54 screens are under the FOCO model and 95 screens under the Asset-light model,” the company said.

Debt declines to lowest since merger

In the 9 months of FY26, the company generated free cash of ₹587 crore, bringing down its net debt to the lowest since the merger. According to the press filing, as of December 31, 2025, its net debt stood at ₹365 crore, marking a reduction of 72% since PVR and Inox merged.

Last month, the company also divested its stake in 4700BC to Marico for an all-cash consideration of ₹226.8 crore, expected to further strengthen its balance sheet.

Commenting on PVR Inox Q3 results, Ajay Bijli, Managing Director, PVR Inox, said, “With a strong content slate ahead, a capital-light expansion strategy, and a significantly strengthened balance sheet, we believe PVR INOX is entering its next phase of sustainable growth. Our focus remains on delighting consumers, driving footfalls through innovation, and creating enduring value for our shareholders.”

Following the earnings announcement, PVR Inox share price declined over 4% to ₹971.70 on the BSE.

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