PVR Inox, a leading multiplex chain, has recently disclosed its financial results for the quarter ending March 31. The figures reveal a consolidated loss of Rs. 130 crores, which, while substantial, marks a significant improvement from the Rs. 333 crores loss reported in the same period last year. This development indicates a positive trajectory for the company, despite the challenges faced in the entertainment sector.
PVR Inox Quarterly Earnings
The company’s revenue from operations stood at Rs. 1256 crores, a 10% increase from the Rs. 1143 crores reported in the previous year. This growth is a testament to the company’s resilience and strategic initiatives to enhance revenue streams. However, the firm did report a loss of Rs. 32 crores for the full financial year, which is a notable reduction from the Rs. 335 crores loss in FY23. The annual revenue also saw a significant rise to Rs. 6107 crores, up from Rs. 3751 crores a year earlier.
Operational Highlights and Customer Engagement
PVR Inox’s operational success is reflected in the Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA), which reached Rs. 35.20 crores for the quarter. The multiplex chain also reported that 3.26 crores patrons visited their cinemas during this period. The Average Ticket Price (ATP) was recorded at Rs. 233, and the food and beverage spend per head (SPH) averaged Rs. 129.
Debt Reduction Strategy: Expansion & Growth
In the first quarter of the year, PVR Inox expanded its reach by inaugurating 33 new screens across six properties. Currently, the chain operates 360 cinemas with 1748 screens across 112 cities, showcasing its commitment to growth and accessibility. Throughout the full financial year, the cinemas welcomed 15.14 crores visitors, with the average ticket price being Rs. 259 and the average food and beverage spend per head at Rs. 132. The year also saw the launch of 25 new properties and 130 new screens, marking FY24 as a period of significant expansion for the company.
A key highlight of PVR Inox’s financial strategy is the reduction of its net debt by Rs. 136.40 crores. This move underscores the company’s focus on financial health and sustainable growth.