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PVR Inox reports net loss of Rs 12 cr in Q2 FY25

15-Oct-24 15:22 Hrs IST

Revenue from operations declined 18.89% year on year (YoY) to Rs 1,622.1 crore in the quarter ended 30 September 2024.

Total income in Q2 FY25 was at Rs 1,663.9 crore, down 17.77% as against Rs 2,023.7 crore posted in same quarter last year.

The firm reported a pre-tax loss of Rs 14.7 crore in the Q2 FY25 as compared with profit before tax of Rs 221.7 crore reported in Q2 FY24.

EBITDA dropped by 28.68% YoY to Rs 521.1 crore during the period under review. The EBITDA margin decreased to 31.3% in Q2 FY25, compared to 36.1% posted in the corresponding quarter of the previous fiscal year.

The company's revenue from movie exhibition stood at Rs 1578.6 crore (down 19.86% YoY) while revenue from movie production and distribution stood at Rs 108.5 crore (up 78.16% YoY), during the quarter.

In Q2 FY25, the company recorded 38.8 million admissions with an average ticket price (ATP) of Rs 257 and spend per head (SPH) stood at Rs 136 as compared with 48.4 million admissions with an ATP of Rs 276 and SPH of Rs 136 in the same period last year.

The company is highly focused on executing its strategy to drive free cash flow generation, improve return metrics, and reduce debt. Despite a relatively soft first half in FY25, the company generated positive free cash flow and reduced net debt by Rs 1,409 million.

On half-year basis, the firm reported consolidated net loss of Rs 190.5 crore in H1 FY25 as against net profit of Rs 84.7 crore posted in H1 FY24. Total income declined by 14.02% YoY to Rs 2,883.3 in H1 FY25.

Ajay Bijli, managing director, PVR INOX, said, The performance in this quarter, highlights the enduring appeal of cinema and the power of compelling content. Our strategy of combining fresh blockbusters with nostalgic rereleases has resonated strongly with audiences, reinforcing our position as a leader in the multiplex industry.'

Till date, in the current financial year, the company has opened 71 new screens and closed 42 underperforming screens, resulting in a net addition of 29 screens. Its current screen portfolio includes 1,747 screens across 356 cinemas in 111 cities in India and Sri Lanka.

PVR INOX is engaged in the business of movie exhibition & production and operates largest cinema circuit across India. The company earns revenue from sale of movie tickets, in-cinema advertisements/product displays and sale of food and beverages and restaurant business.

The scrip advanced 2.21% to currently trade at Rs 1,621.85 on the BSE.