PVR Inox Q2 Results: Multiplex reports net profit of ₹166 crore; revenue jumps 53% QoQ
₹166.3 crore for the second quarter of FY24 as compared to a loss of ₹82 crore in the first quarter of this fiscal. The company’s revenue in Q2FY24 jumped 53.3% to ₹1,999.9 crore from ₹1,305 crore in Q1FY24. The biggest highlight of the quarter was the record breaking performance of the Hindi box office.
'Jawan' and 'Gadar 2' ranked amongst the highest-grossing Hindi films of all time, amassing over 750+ crores and 620+ crores at the box office, PVR Inox said. In Hollywood, 'Oppenheimer' and 'Mission Impossible: Dead Reckoning Part 1' set a fantastic tone, grossing 150+ crores and 130+ crores in India, the company added. Also Read: Nestle India Q3 Results: Net profit rises 37% YoY; board approves ₹140 dividend; 1:10 stock split PVR INOX merger became effective from February 6, 2023.
“Following our recent merger, we have been diligently working to realize the full potential of this strategic union. We are pleased to report that the integration process has been progressing seamlessly, yielding substantial operational efficiencies," PVR Inox said in a release. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Earnings before interest, tax, depreciation and amortization (EBITDA) during the quarter rose to ₹706.8 crore from ₹353 crore, sequentially, while EBITDA margin improved significantly by 830 basis points (bps) to 35.3% from 27%, QoQ.
The company said it reported highest ever box office collection of all time during the quarter and is on track to be free cash flow positive for FY24. Its average ticket price (ATP) in the September quarter was highest ever at ₹276, while F&B spend per head was at ₹136. Footfalls rose 64%
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