Multiplex chain PVR INOX reported a loss of Rs 81.6 crore in the June quarter. The company had earned a profit of Rs 53 crore in the April-June quarter a year ago. This loss has been recorded due to an increase of more than 56% in expenses. The company's expenses during the quarter stood at Rs 1,437.70 crore, as against Rs 917 crore in the year-ago quarte
The company's revenue increased to Rs 1,304.9 crore on an annual basis. 981 crore was recorded in the same quarter last year. On the other hand, PVR INOX has registered a growth of 15% in ticket sales on a quarterly basis. Food & Beverage sales grew 22% QoQ. Add income in Q1FY4 has been similar to Q4FY23.
The average ticket price of PVR INOX was Rs 246. This is a growth of 3% on a quarterly basis. On the other hand, the average per capita expenditure on food and beverages was Rs 130. This is an increase of 9% on a sequential basis. The company had recently cut the prices of food items by up to 40%. It also introduced a food combo for Rs 99.
The company has added 31 screens across 5 properties during the quarter. As of July, PVR INOX had 1,707 screens across 361 cinemas in 114 cities. And on August 1, the company told in its stock filing that it has opened a 3 screen multiplex at KV Mall in Patna. It now has 1710 screens across 362 properties in 115 cities in India and Sri Lanka.
Ajay Bijli, Managing Director, PVR Inox Ltd. said, “The exceptional performance of Hollywood films reinforces our belief in consumers' love for theatre-going. The blockbuster success of unconventional films like Barbie and Oppenheimer in India clearly indicate that audiences are turning to the big screen for a unique cinema experience.