PVR Limited, after the merger with INOX Leisure Limited, inaugurated its first multiplex under the merged entity in Indore on February 17. The new eight-screen multiplex at Phoenix Citadel Mall will strengthen the company’s foothold in the state with 54 screens in 10 properties.
The launch consolidates the merged entity’s presence in central India with 299 screens in 70 properties across 25 cities in Madhya Pradesh, Gujarat, Rajasthan and Chhattisgarh.
Commenting on the launch, Ajay Bijli, Managing Director, PVR Limited, said, “It is an extremely proud moment for us to open our first cinema under the unified entity in Indore, adjudged the cleanest city in the Swachh Survekshan Awards 2022. While bringing the best of cinema viewing formats, we aspire to provide exceptional customer service and cinema experience to Indian moviegoers. The merged entity would unlock the immense potential of the Indian film exhibition industry improving its reach in newer markets and driving growth for the benefit of all stakeholders in the value chain.”
Located in the upscale neighbourhood of MR 10 Road Junction, the new multiplex has a seating capacity of 1,318 and incorporates two auditoriums of INSIGNIA, one each of KIDDLES and BIGPIX along with four other Auditoriums equipped with state-of-the-art equipment.
The largest multiplex chain in the country, posted a consolidated net profit of Rs 16.1 crore during October-December 2022 quarter, against a loss of Rs 10 crore in the year-ago period.
Revenue from operations rose 53 percent year-on-year (YoY) to Rs 941 crore from Rs 614 crore registered in the corresponding quarter of the previous fiscal. EBITDA (earnings before interest, taxes, depreciation and amortisation) grew 75.1 percent YoY to Rs 288.8 crore. Margins also improved YoY from 26.9 percent to 30.7 percent.
PVR Limited completed the merger of INOX Leisure Limited, effective February 06, 2023. The merged entity is the largest film exhibition company in India with 1642 screens across 354 properties in 113 cities (India and Sri Lanka).
With a collective heritage of transforming out-of-home entertainment in the country, the merged company offers a wide range of cinema services such as child-friendly auditoriums, the latest screening technology, superior sound systems, a wide range of F&B offerings, film and non-film content and array of formats in the premium screen category.
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