PVR INOX Announces Results For The Quarter & 6 Months Ended 30th Sep’24
Gurugram : PVR INOX Limited today announced its unaudited standalone and consolidated financial results for the quarter and the 6-month period ended September 30, 2024. During the quarter, the company recorded 38.8 mn admissions with an ATP of INR 257 and SPH of INR 136. In the 1st half of the year, the company recorded 69.2 mn admissions with an ATP of INR 247 and SPH of INR 135. The Indian box office collections witnessed a significant QoQ growth of 40% in Q2 FY’25, reflecting strong audience turnout and solid performance across multiple film releases. The resurgence in collections was largely driven by Hindi-language films, which saw an impressive 91% increase in collections compared to the previous quarter. A major contributor to this success was the record-breaking performance of Stree 2, which has now become the highest-grossing Hindi movie of all time. Additionally, Kalki, released at the end of Q1 FY’25, continued to perform strongly across both Hindi and Telugu markets, further boosting box office numbers. Internationally, Deadpool and Wolverine made headlines by becoming the highest-grossing R-rated movie worldwide, generating an astounding USD 1.3 billion in global box office revenue. Regional hits such as G.O.A.T. (Tamil) and Devara (Telugu) also contributed significantly to the quarter’s strong performance.
PVR INOX’s strategic decision to re-release popular films proved to be highly successful, adding more choice for moviegoers during leaner periods. Approximately 6% of Q2 admissions came from the re-release of classics such as Tumbbad, Laila Majnu, Rehnaa Hai Terre Dil Mein, and Veer Zaara. The strong box office performance of both new releases and older classics demonstrates that good quality content is the primary factor that drives cinema attendance. Moreover, National Cinema Day, held on Friday, 20th September, saw an overwhelming response from audiences across the country. In a collaborative effort involving more than 11 multiplex chains and over 4,000 screens nationwide, PVR INOX welcomed approximately 1 million guests to its cinemas, marking one of the biggest days of the current fiscal year. The upcoming quarter promises to be highly exciting with a strong lineup of releases across languages. Just last week, we saw the release of ‘Vicky Vidya Ka Woh Wala Video’, starring Rajkumar Rao and Tripti Dimri, and ‘Jigra’, featuring Alia Bhatt. Looking ahead, Diwali in November brings two major Hindi films—‘Singham Again’, a multistarrer blockbuster starring Ajay Devgan, Kareena Kapoor, and others, along with ‘Bhool Bhulaiyaa 3’, headlined by Kartik Aryan and Tripti Dimri. December will see the release of ‘Baby John’ starring Varun Dhawan and Jackie Shroff.
One of the most anticipated releases of the year is Allu Arjun’s ‘Pushpa 2’, set to hit screens in five languages in the first week of December. Additionally, the regional film slate includes ‘Kanguva’, a multilingual release featuring Suriya and Bobby Deol, ‘Game Changer’ with Ram Charan and Kiara Advani, and ‘Viduthalai Part 2’ starring Vijay Sethupathy. Hollywood also 3 has a robust lineup, with films like ‘Venom: The Last Dance’, ‘Gladiator 2’, ‘Kraven the Hunter’, and ‘Mufasa: The Lion King’ set to captivate audiences. Till date, in the current financial year, the company has opened 71 new screens and closed 42 underperforming screens, resulting in net addition of 29 screens during the period. Currently, our screen portfolio includes 1,747 screens in 356 cinemas across 111 cities in India and Sri Lanka.
The company is highly focused on executing its strategy of driving free cash flow generation, improving return metrics and reducing debt. Despite a relatively soft first half in FY’25, the company generated positive free cash flow and reduced net debt by INR 1,409 mn. Mr. Ajay Bijli, Managing Director, PVR INOX Ltd., 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 re-releases has resonated strongly with audiences, reinforcing our position as a leader in the multiplex industry.”