PVR INOX Q3 net profit jumps nearly 3-fold to ₹35.9 cr, revenue up 11 pc at ₹1,717.3 cr

New Delhi, Feb 6 (PTI) Multiplex firm PVR INOX on Thursday reported nearly three-fold jump in consolidated net profit at ₹35.9 crore for the third quarter ended December, supported by record-breaking average ticket prices and food and beverage spend.

The company, earlier known as PVR Ltd, had posted a net profit of ₹12.8 crore in the October-December period a year ago, according to a regulatory filing.

Its revenue from operations stood at ₹1,717.3 crore, up 11 per cent in the December quarter of the current fiscal. In the year-ago period, the same was at ₹1,545.9 crore.

“Blockbuster movies propelled Q3 to the highest box office earnings of the year,” said PVR Inox in its earnings statement.

The movie Pushpa 2 has created a “history as the biggest blockbuster ever in Indian cinema”, which contributed 36 per cent of its third quarter India box office collections and 12 per cent of its 2024 India Box office collections, it added.

During the quarter, the company recorded 3.73 crore admissions with an ATP (Average ticket price) of ₹281, which according to PVR Inox is the “highest quarterly average”.

Besides, in the December quarter, PVR Inox also had a record of highest quarterly F&B spend per head of ₹140 and highest quarterly advertisement income of ₹148.6 crore after the pandemic.

“This success led to record-breaking average ticket prices and spending per head, reaching ₹281 and ₹140 respectively. Advertising revenue also soared to ₹1,486 million, the highest since the pandemic,” it said.

The October-December quarter started with strong performances from Tamil and Telugu films – Junior NTR’s Devara Part-1 and Rajnikanth’s Vettaiyan in October.

In November, Hindi cinema rebounded with two hits – Singham Again and Bhool Bhulaiyaa 3, each earning approximately ₹300 crore. Regional films continued their strong performance, with Amaran surpassing ₹250 crores and becoming the second highest-grossing Tamil film of the year.

“December emerged as the biggest month of the year, driven by the record-breaking release of Pushpa 2. The film grossed over ₹1,450 crore in India, with its Hindi dubbed version achieving over ₹900 crore, a new record for the highest-grossing Hindi film ever,” it said.

PVR INOX’s total expenses in the December quarter were at ₹1,712.8 crore, up 7.9 per cent.

In the December quarter, PVR INOX’s revenue from the movie exhibition business was up 5 per cent to ₹1,638.8 crore in the December quarter.

However, its revenue from movie production and distribution was up over three-fold to ₹146.4 crore. It was at ₹41.2 crore in the corresponding December quarter of the last fiscal year.

Its total income, which includes other income, was up 9.6 per cent to ₹1,759.1 crore in the December quarter.

During the quarter, 11 new screens opened, taking PVR INOX total screen count to 1,728 screens in 350 cinemas across 111 cities in India and Sri Lanka.

Moreover, PVR Inox, which after the merger is closing non-performing screens as part of a strategy to focus on profitable growth, has to date in the current fiscal, added 77 new screens and exited 67 underperforming screens.

“For the whole year, the company expects to open about 100–110 new screens,” it said.

Going ahead, Managing Director Ajay Kumar Bijli said the focus remains on pivoting to the capital-light model, enhancing free cash generation, reducing net debt, controlling costs and delivering a diverse slate of films.

“With a robust content pipeline, a slew of strategic growth initiatives, and continued financial discipline, we are confident in sustaining our leadership and driving long-term value for all stakeholders,” he said.

Shares of PVR INOX Ltd on Thursday settled at ₹1,122 on BSE, down 0.91 per cent from the previous close.