Produced by: Tarun Mishra
Designed by: Manoj Kumar
PVR Inox reported a substantial profit of Rs 207.3 crore in Q2 FY24, representing a significant recovery from the loss of Rs 81.6 crore experienced in the preceding June quarter.
The company reported Q2 revenue of Rs 2,019.6 crore, signifying a substantial increase compared to the previous quarter's revenue of Rs 1,329.8 crore.
In Q2, PVR Inox achieved its highest-ever footfalls, with an average ticket price (ATP) of Rs 275, and a spend per head (SPH) of Rs 136.
In Q2, PVR Inox reported a substantial 31.6 percent increase in advertising revenue, reaching Rs 117.6 crore.
PVR Inox not only exceeded its own expectations but also surpassed those of analysts. Brokerages had estimated a Q2 profit of Rs 153 crore.
The June quarter presented several hurdles for PVR Inox, including a lackluster performance of Hindi films, a gradual recovery in audience footfalls, and sluggish cinema advertising revenue.
The exceptional performance of several films, including the likes of Jawan, Jailer, and Gadar 2, played a pivotal role in driving this impressive profit surge, marking a notable shift from the previous quarter.
The second quarter saw eight movies crossing the Rs 100 crore net box office collections (NBOC) milestone, significantly contributing to the record-breaking revenue.
Shah Rukh Khan's Jawan and the Sunny Deol-starrer Gadar 2 emerged as the highest-grossing Hindi films, each amassing remarkable earnings exceeding Rs 750 crore and Rs 620 crore, respectively, making them standout contributors to PVR Inox's success.
The Tamil film Jailer, featuring the iconic Rajinikanth, stood out with an impressive box office collection of over Rs 390 crore. On the Hollywood front, releases like Oppenheimer, Barbie and Mission Impossible: Dead Reckoning Part 1 also made significant contributions to the multiplex's impressive results.
Ajay Bijli, the Managing Director of PVR Inox, expressed high optimism about the content lineup in the coming months. This diversified lineup encompasses a wide range of Hindi and regional releases like Tiger 3, Animal, Sam bahadur, Yodha, Dunki, Leo, Captain Miller etc. as well as highly anticipated Hollywood blockbusters like The Marvels, Taylor Swift’s The Eras Tour Movie, Napoleon, Wonka and Aquaman and the Lost Kingdom.