New Delhi: Leading multiplex operator PVR INOX on Tuesday reported a consolidated net loss of Rs 12.1 crore for the second quarter ended September 2024, impacted by the decline in the movie exhibition business.The company posted a net profit of Rs 166.2 crore a year ago, according to a regulatory filing by PVR Inox.Its revenue from operations fell 18.9 per cent to Rs 1,622.1 crore during the quarter under review. It was Rs 1,999.9 crore in the year-ago period.PVR INOX's total expenses in the September quarter dropped 6.84 per cent to Rs 1,678.6 crore. Its revenue from the Movie exhibition business declined 19.86 per cent to Rs 1,578.6 crore during the quarter. However, its revenue from the movie production and distribution business rose 78.16 per cent in the September quarter to Rs 108.5 crore."During the quarter, the company recorded 3.88 crore admissions with an ATP (average ticket price) of Rs 257 and SPH (spend per head) of Rs 136," said PVR Inox in its earnings statement. PVR INOX, formed last year after the merger of two leading cinema exhibitors PVR and INOX, is currently operating 356 cinemas with 1,747 screens across 111 cities.The merged entity also reviewing its screen counts and closing non-performing screens in the current fiscal. "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 during the period," it said. PVR INOX expects to open 110-120 new screens in FY 2024-25, it added.According to PVR INOX, on a quarter-on-quarter basis, it is witnessing a resurgence in collections, largely driven by Hindi-language films, which saw an impressive 91 per cent 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 FY25, continued to perform strongly across both Hindi and Telugu markets, further boosting box office numbers," it said. Internationally, Deadpool and Wolverine became the highest-grossing R-rated movie worldwide, generating an astounding USD 1.3 billion in global box office revenue.Regional hits like G.O.A.T. (Tamil) and Devara (Telugu) also contributed significantly to the quarter's performance, it added. Shares of PVR INOX Ltd on Tuesday settled at Rs 1,621.95 on BSE, up 2.22 per cent.
You may also like
Don't Make These 5 Mistakes on Sharad Purnima, Even by Accident
What is Digital Dementia?
Get a chance to get a government job in IGCAR today
Is there another new world under the sea?
This actress used to shoot prank videos with people on the streets
No one was sick but Delta cancels meal services on 200 flights over 'safety issue'
Huge new Hollywood blockbuster 'set to lose $200 million' after box office catastrophe
Al Pacino's wild love life from steamy on set affair to 'oldest dad on record'
Rajasthan bypolls: Over one crore voters to decide fate of seven candidates
Godrej Magic HandwashReinforces the Power of Hand Hygiene for a Cleaner, Healthier World on Global-Handwashing-day
Simon Jordan sums up Ryder Cup ticket prices and has message to Team USA's players
Sofia Richie feared for her and her unborn baby's life during 'terrifying' pregnancy ordeal
Meghan Markle's friend reveals real reason she didn't attend engagements with Harry
'My son was dripping in blood with finger hanging off when our washing machine exploded'
"Don't understand reason behind such arrangement": Shiv Sena (UBT)'s Arvind Sawant on Maharashtra poll schedule
Inviting outside forces dents efforts for unity: Rajnath tells neighbours on maritime security
'I visited Tom Kerridge's Michelin-starred pub and was stunned by £8 menu item'
India-Canada ties hit rock bottom; Delhi strongly rejects Ottawa's fresh charges
Greg James hits out at Channel 4 for 'rushing' his axed TV show as it rivalled the Traitors
Harry Kane immediate Thomas Tuchel England manager verdict speaks volumes after FA talks