Revenue growth during the first quarter has been aided by 6-7 percent growth in average ticket price to Rs 193, said PVR CFO Nitin Sood in an interview to CNBC-TV18.
Revenue growth during the first quarter of this fiscal year has been aided by 6-7 percent growth in average ticket price to about Rs 193 said PVR CFO Nitin Sood in an interview to CNBC-TV18.
Sood said same-store growth in average ticket price was about 4-5 percent but new store additions came at higher ticket prices which led to the increase in overall average.
He expects similar 4-5 percent year-on-year growth on same-store average ticket price for the full year too.
Overall footfalls improved to 20.7 million this quarter, up close to 9 percent over same quarter last year, he said.
Food and beverages spending per head for the quarter improved a bit to Rs 77 from Rs 73 last quarter. However, on annual basis the company hopes to clock around 10 percent year-on-year growth in F&B spending.
Below is the verbatim transcript of Nitin Sood’s interview to Surabhi Upadhyay & Ekta Batra on CNBC-TV18.
Surabhi: If you could give us some of the internals. How has the average ticket prices moved this time?
A: Our overall revenue during the quarter has moved up by 18 percent and it is driven by about 4-5 percent growth in average ticket price during the quarter on same stores. Overall the average ticket pricing growth has been abut 6-7 percent as the new store additions that we have made during the quarter have trended at a higher ticket price than our average. So, very decent ticket price growth, in line with inflation.
Surabhi: So, your ticket prices are up 6-7 percent and what about footfalls in the quarter?
A: Overall footfalls for this quarter were 20.7 million which is again up almost 9 percent as compared to the previous quarter and this is on account of new store additions that we have done. Same store footfalls are marginally up by 1 percent as compared to Q1 of last fiscal year.
Ekta: To drill down a little more on the average ticket price, is it fair to assume around Rs 190?
A: Our average ticket price is around Rs 193 during the quarter.
Ekta: Just wanted to even touch upon your food and beverages (F&B) spending per head. Last quarter it stood at around 73. What is it this quarter and what is the trajectory?
A: This quarter has moved up to Rs 77 which is about a 4-5 percent growth over what we did last time around. But on an annual basis we are looking at almost a 10 percent growth on this head because we had a lot of regional and adolescence content in this specific quarter, so the growth has been marginally lower on account of that but as we get lot of family films in the subsequent quarter the growth will be much higher.
Ekta: What is the kind of trajectory you possibly see in the next two to three quarters in terms of your average ticket prices as well as the F&B spending especially, if you could share exact numbers with us in terms of a target?
A: On an annual basis this year we are looking at about 4 to 5 percent average ticket price growth over the last fiscal year on same stores.
On F&B spend head we are expecting almost a 10 percent growth over the last fiscal year due to new product innovations and introductions that we will be doing during the course of the year. So, that is the broader outlook.
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