PVR Inox share price falls 3% even as strong occupancy lifts Q2 results. ‘Jawan’, ‘Gadar 2’ wins the show.
PVR Inox Ltd share prices were down almost 3% on Friday. PVR Inox had reported a very strong performance for the quarter ending September on Thursday helped by rising footfalls and better occupancy. The record-breaking performance of the Hindi box office.
'Jawan' and 'Gadar 2' ranked amongst the highest-grossing Hindi films of all time lifted overall Q2 performance. Other mid budget movies as ‘Rocky aur Rani ki Prem Kahani’ and ‘Oh my God 2’ and ‘Dream Girl 2’ and even ‘Fukrey 3’ opening at the end of quarter made reasonable contributions. The Hollywood movies as 'Oppenheimer' 'Mission Impossible: Dead Reckoning Part 1' set a fantastic tone while of regional front, 'Jailer (Tamil),' featuring Rajinikanth, stood out with an impressive box office collection.
PVR Inox average ticket price (ATP) in the September quarter was the highest ever at ₹276, while F&B spend per head was at ₹136. Footfalls rose 64% to 48.4 million from 29.6 million, YoY. Also Read - PVR Inox Earnings: Post-merger EBITDA synergy benefits at ₹124-143 crore in H1 Not surprising the analysts as Jinesh Joshi said that it was “Best ever quarter for PVR Inox The Earnings before interest, tax, depreciation and amortization (Ebitda) during the quarter for PVR Inox at 706.8 crore from ₹353 crore sequentially, while the Ebitda margin improved by a huge 830 basis points (bps) sequentially from 27% to 35.3%.
PVR Inox also clocked a net profit of ₹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 Q2 jumped 53.3% to ₹1,999.9 crore from ₹1,305 crore in Q1. The content remains the key for such a good performance being repeated by PVR Inox in subsequent quarters.
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