PVR INOX post merger Ebitda synergy benefits at ₹124-143 crore during H1FY24
PVR Inox Ltd post its Q2 financial performance also highlighted the synergy benefits that have accrued to the company during first half FY 24 post merger of PVR Limited and INOX Leisure Limited (INOX) became effective 6 February 2023 PVR INOX said that it is on course to deliver significant portion of merger synergies in FY’24. EBITDA Synergy of ₹124 Crore to ₹143 Crore were visible during the first half FY24 as per PVR Inox.
As per PVR Inox the synergy benefits on the overhead costs as those of personnel, house keeping, security, have been to the tune of ₹17-21 crore during the first half of FY24. Also Read- PVR Inox Q2 Results: Multiplex reports net profit of Rs166 crore; revenue jumps 53% QoQ The per screen savings per PVR Inox were in the range of ₹1,04,000 – 1,28,000 during the first half FY24 as per the company’s presentation.
The average screen count during the first half stood at 1,656 screens. While Overhead Cost per Screen rose 2.6% year-on-year to ₹2.44 million ( ₹24.4 Lakhs) during first half FY24, compared to ₹2.38 million during first half FY23, the rise was significantly lower compared to 7-8% rise in overhead costs the company would have seen normally (prior to merger).
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