Multiplex firm PVR Inox Ltd on October 15 reported consolidated net loss of Rs 12 crore for the quarter ended September 30, 2024. It reported net profit of Rs 166 crore in the year-ago period.
At 1:15 pm, PVR Inox's shares were trading marginally higher at Rs 1,600.45 apiece.
The firm's revenue fell 19% to Rs 1,622 crore in Q2FY25 as against Rs 2,000 crore in Q2FY24.
The company's EBITDA was Rs 479 crore in Q2FY25 as compared to Rs 700 crore in Q2FY24 and the EBITDA margin fell to 29.55% in September quarter as against 35.34% in the year-ago period.
Analysts had expected PVR Inox's revenue to decline 23.2 percent year-on-year due to a high base of Q2 FY24. Revenue from operations was estimated to decline by 23.2 percent to Rs 1,535.4 crore. It had reported a revenue of Rs 1,190.7 crore in Q1.
Overall box office is estimated to decline 19.7 percent YoY to Rs 2,630 crore given the high base of Q2 FY24 which was the best ever quarter in the post-Covid period.
In the September quarter of FY25, movies like Stree 2, The Greatest of All Time (GOAT), Devara (Part 1), and Deadpool & Wolverine surpassed the Rs 100 crore mark.
August releases this year grossed Rs 1,291 crore at the domestic box office, making it the best month in 2024 for the Indian box office, according to media consulting firm Ormax.
Stree 2’s box office sales contributed to more than half of August's box office business. No other film that released in August, across languages, was able to gross Rs 100 crore at the box office. The language share of Hindi films increased from 35 percent in July to 40 percent in August, as a result of Stree 2's exceptional box office performance, Ormax analysis noted.
The box office for January-August releases stands at Rs 6,868 crore, down by 7.5 percent from the last year.
Net Hindi box office is estimated to decline by 31 percent YoY in Q2 FY25 due to a higher base of Jawan, Gadar 2, and OMG 2 last year.
Footfalls in PVR Inox cinemas grew sequentially to 3.88 crore from 3.04 crore in Q1 FY25. However, footfalls fell 19.9 percent at 4.84 crore YoY.
The multiplex operator's average ticket price fell by 6.7 percent to Rs 257 in Q2 from Rs 276 during the same period a year ago. Company's spend per head remain unchanged at Rs 136.
Analysts had expected ATP to improve to Rs 254 from Rs 235 in Q1 FY25, while spend per head (SPH) to inch up to Rs 135 from Rs 134 in Q1 FY25.
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