PVR INOX Limited
TOTAL REVENUE: INR
Total revenue: INR 1,569 crores (YoY +6.4%)
EBITDA: INR 226
EBITDA: INR 226 crores (YoY +2.7%)
PAT: INR 41
PAT: INR 41 crores (YoY +925%)
GUESTS WELCOMED: 36.5
Guests welcomed: 36.5 million (Q3 FY '24)
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Financial Performance
Total revenue for the quarter was INR1,569 crores, EBITDA was INR226 crores and PAT was INR41 crores.
These figures indicate a solid performance compared to the previous year, reflecting the recovery of the box office and the company's operational efficiency.
The pro forma financials of PVR and INOX combined for the same period last year was the revenue of INR1,474 crores, EBITDA INR220 crores and PAT of INR4 crores.
This comparison highlights the growth trajectory post-merger, showcasing improved profitability and revenue generation.
Business Operations
We welcome 36.5 million guests across our cinemas in Q3 of FY '24.
This guest count reflects strong consumer demand and a successful recovery in cinema attendance post-pandemic.
It's really heartening to see that in the calendar year 2023, India stands out as a sole major market worldwide to surpass the pre-pandemic peak in box office collections.
This positions India favorably in the global market, indicating a robust recovery and growth potential for the cinema industry.
Growth Initiatives
We are optimistic about the compelling content lineup across the languages.
A strong slate of upcoming films is expected to drive box office performance and attract audiences back to cinemas.
For the 9-month period, the company has opened 97 new screens and is on track to open 160 to 170 new screens in FY '24.
This aggressive expansion strategy aims to capture growing market demand and enhance the company's footprint.
Market Dynamics
The Hindi box office experienced a remarkable comeback with 4 highest grossing Hindi films of all time.
This trend indicates a resurgence in the Hindi film market, which is crucial for the company's revenue generation.
Future Outlook
As we look ahead, we are optimistic about the compelling content lineup across the languages.
The management's confidence in upcoming releases suggests a positive outlook for revenue growth in the near term.
The first half of the quarter... impacted the movie releases and performance in October and November.
This acknowledgment of external factors affecting performance highlights the challenges faced during the quarter.