Gurgaon-based multiplex chain on Thursday declared its July-September 2023 quarter earnings, reporting its best-ever quarter. The company reported the highest-ever revenue, average ticket size, food and beverage spend during the second quarter of the current fiscal.
Q2 FY24 was the best ever quarter of all time for PVR INOX Limited in terms of Admissions, ATP and SPH leading to highest ever Revenue, EBITDA and PAT. During the quarter, the company’s PAT surged to Rs 166.2 crore from Rs 71.5 crore last year. PVR INOX’s revenue came in at Rs 1999.9 crore versus Rs 686 crore.
As the PVR INOX merger became effective from February 6, 2023; the Q2 FY24 results for the company are reported on a merged basis for PVR and INOX and are not comparable with earlier periods.
PVR INOX Q2 Results 2024
Admissions surged by 64 per cent to 48.4 million from 29.6 million in Q2 FY23. Similarly average ticket price and F&B spend per head witnessed YoY growth of 25 per cent and 15 per cent, reaching Rs 276 and Rs 136 respectively compared to Rs 221 and Rs 118 in Q2 FY23.
This robust performance led to a 109 per cent increase in ticket sales, an 89 per cent rise in Food & Beverage sales, and a 41 per cent boost in Ad sales when compared to proforma figures from Q2 FY’23.
Jawan And Gadar 2 Boosted Business In Unprecedented Way
The biggest highlight of the quarter for PVR INOX was the record breaking performance of the Hindi box office. Jawan and Gadar 2 ranked amongst the highest-grossing Hindi films of all time. The films amassed over Rs 750 crores and Rs 620 crores at the box office.
“They were complemented by solid performance of mid budget movies, with Rocky Aur Rani Kii Prem Kahani and Oh My God 2 grossing 150+ crs and Dream Girl 2 crossing the 100 crore mark. Fukrey 3 released near quarter end, also crossed 100 crore at the box office,” the company said in a statement.
In Hollywood, Oppenheimer and Mission Impossible: Dead Reckoning Part 1 set a fantastic tone, grossing Rs 150 crores and Rs 130 crores in India. Barbie and Nun II also performed well, crossing the Rs 50+ crore mark.
On the regional front, Jailer (Tamil), featuring Rajinikanth, stood out with an impressive box office collection of over Rs 390 crores. Other regional successes such as Baipan Bhari Deva (Marathi) and Carry on Jatta 3 (Punjabi) secured substantial earnings, reaching Rs 90 crores and Rs 44 crores, respectively.
During Q2 FY24, PVR INOX saw 37 new screens openings in 7 cinemas and a total of 68 new screens in 12 cinemas in the first half of FY24.
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