AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 131.22 Increased By ▲ 2.16 (1.67%)
BOP 6.81 Increased By ▲ 0.06 (0.89%)
CNERGY 4.71 Increased By ▲ 0.22 (4.9%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.47 Increased By ▲ 0.65 (1.59%)
DGKC 82.09 Increased By ▲ 1.13 (1.4%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 72.87 Decreased By ▼ -1.56 (-2.1%)
FFL 12.26 Increased By ▲ 0.52 (4.43%)
HUBC 110.74 Increased By ▲ 1.16 (1.06%)
HUMNL 14.51 Increased By ▲ 0.76 (5.53%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.61 Decreased By ▼ -0.11 (-1.42%)
MLCF 38.90 Increased By ▲ 0.30 (0.78%)
NBP 64.01 Increased By ▲ 0.50 (0.79%)
OGDC 192.82 Decreased By ▼ -1.87 (-0.96%)
PAEL 25.68 Decreased By ▼ -0.03 (-0.12%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.07 Decreased By ▼ -1.38 (-0.89%)
PRL 25.83 Increased By ▲ 0.04 (0.16%)
PTC 17.81 Increased By ▲ 0.31 (1.77%)
SEARL 82.30 Increased By ▲ 3.65 (4.64%)
TELE 7.76 Decreased By ▼ -0.10 (-1.27%)
TOMCL 33.46 Decreased By ▼ -0.27 (-0.8%)
TPLP 8.49 Increased By ▲ 0.09 (1.07%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.40 Decreased By ▼ -0.82 (-1.41%)
UNITY 27.51 Increased By ▲ 0.02 (0.07%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,504 Increased By 59.3 (0.57%)
BR30 31,226 Increased By 36.9 (0.12%)
KSE100 98,080 Increased By 281.6 (0.29%)
KSE30 30,559 Increased By 78 (0.26%)

BENGALURU: PVR Inox, India’s largest multiplex operator, swung to a quarterly profit on Thursday as the smashing success of Hollywood titles ‘Barbie’ and ‘Oppenheimer’, and hit Bollywood films lured more customers.

The theatre chain, reporting results for the third time since the merger of PVR and Inox, reported a profit of 1.66 billion rupees ($19.95 million) for the July-September quarter, compared with losses in each of the previous two quarters.

The company had said in August that the strong box office performances of Hindi films such as ‘Gadar 2’ and ‘Rocky aur Rani ki Prem Kahani,’ coupled with ‘Jailer’ in Tamil and ‘Barbenheimer,’ had led to record footfall.

Karan Johar on ‘Rocky Aur Rani Kii Prem Kahaani’ competing with ‘Barbenheimer’

That helped PVR Inox, which opened 37 new screens in the quarter, boost theatre occupancy to 32.3% this quarter from 22.3% in the previous quarter.

Moreover, not only did its average ticket price rise 12.2% sequentially to 276 rupees, customers spent 136 rupees per head on food and beverage in the quarter, more than the 130 rupees in the previous quarter.

That helped the company’s consolidated revenue surge 53.3% sequentially to 20 billion rupees.

‘Tiger 3’ trailer crosses 10mn views just hours after its release

That more than offset PVR Inox spending 66% more on movie exhibitions and 44% more on food and beverage in anticipation of the higher footfall. Its total expenses jumped 25.3%.

PVR Inox’s shares, which had surged 25% in the September quarter after declining in the previous two quarters, ended the session 1.6% lower.

“Enthusiasm around the movies and PVR Inox’s results were in line with expectations and hence, we do not see much of a reaction on the stock,” said Vivekanand Subbaraman, research analyst at brokerage Ambit Capital.

PVR Inox also said it reduced its net debt by 3.28 billion rupees in the last six months, setting it on track to be free cash flow positive by the end of the fiscal year.

Bollywood’s Shah Rukh Khan to make history with two $100mn films in single year

Comments

Comments are closed.