PVR Inox Q4 results: Net loss narrows to ₹130 crore, revenue rises 10% YoY
₹130 crore in the fourth quarter of FY24, down from ₹333 crore reported in the year-ago period. The company has posted a net profit of ₹13 crore in Q3FY24. PVR Inox’s revenue from operations in Q4FY24 rose 10% to ₹1,256 crore from ₹1,143 crore, YoY.
For the full year FY24, the company’s loss narrowed to ₹32 crore from ₹335 crore in FY23, while its revenue for the period increased to ₹6,107 crore from ₹3,751 crore in the previous year. During the quarter ended March 2024, PVR Inox said 3.26 crore patrons visiting its cinemas, while its Average ticket price (ATP) was ₹233. The food & beverage (F&B) spend per head (SPH) was at ₹129.
Also Read: Kumar Mangalam Birla’s Novelis plans $1.2 billion worth US IPO as early as June, targets $18 billion valuation PVR Inox opened 33 new screens across 6 properties during the quarter and as on date it operates 360 cinemas with 1,748 screens across 112 cities. In FY24, the company recorded 15.14 crore admissions, up 59% YoY, with an ATP of ₹259. During the year, the company opened 130 new screens and closed 85 underperforming screening, resulting in net addition of 45 screens during the year.
Currently, its screen portfolio includes 1,748 screens in 360 cinemas across 112 cities in India and Sri Lanka. “The key strategic priorities should help the company in charting a new, less capital intensive and incrementally profitable growth path. Our endeavour is to redefine our growth strategy, focus on fixed cost reduction thus improving profitability resulting in enhanced return on capital and free cash flow generation," said Ajay Bijli, Managing Director, PVR INOX Ltd.
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