PVR Inox Q3 results: Consolidated net profit zooms 177% to ₹35.5 crore

The company’s revenue from operations saw a 11.08% increase to ₹1717.3 crore during the reporting quarter as compared t ₹1,545.9 crore same quarter previous fiscal year.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw an increase of 11.7%, reaching ₹528 crore, compared to ₹472 crore in the previous year. Its Ebitda margin slightly improved to 30.7% from 30.6%.

Despite the positive December quarter numbers, shares of PVR Inox remained under pressure. During the intraday trade, the company was trading lower by 2.7% on BSE.

The company’s advertising revenue soared to ₹148.6 crore during the quarter, the highest since the pandemic. Admissions in Q3 were 3.73 crore. For the nine-month period, the company recorded 10.64 crore admissions with an average ticket price of ₹259, spend per head of ₹137 and ad income of ₹351.3 crore.

PVR Inox in an exchange filing said that the blockbuster movies propelled Q3 to the highest box office earnings of the year. “This success led to record-breaking average ticket prices and spending per head, reaching ₹281 and ₹140 respectively,” it said.

“Notably, Pushpa 2 made history as the biggest blockbuster ever in Indian cinema, contributing 36% of Q3's India box office collections and 12% of CY 2024’s India Box office collections. Q3 began with strong performances from Tamil and Telugu films. However, underwhelming performance of Hindi and English releases like Jigra and Joker 2 impacted the overall October box office,” the company further added.

Till date in the current fiscal, the company has added 77 new screens and exited 67 underperforming screens. For the whole year, the company expects to open about 100–110 new screens. Screen portfolio currently stands at 1,728 screens across 350 cinemas in 111 cities in India and Sri Lanka.

Post-merger, the company has consistently managed to reduce its net debt. As of December 2024, net debt stands at ₹9,95.8 crore as compared to ₹1,430.4 crore in March 2023, a reduction of ₹434.6 crore.

Commenting on the results and performance, Ajay Kumar Bijli, Managing Director, PVR INOX Ltd, said, "As we look ahead, our 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 that excite and inspire moviegoers. 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."