Multiplex chain PVR Inox on Tuesday reported a consolidated net loss of Rs 82 crore for the quarter ended June 30 versus a net profit of Rs 53.2 crore in the corresponding quarter of the previous financial year.
The revenue from operations for the quarter under review was Rs 1,304.90 crore, which is a 32% increase over the previous year. The loss was mainly on the back of an over 56% increase in the expenditure of the company at Rs 1,437,70 crore against Rs 917 crore in the period of the previous year.
The cost of the movie exhibition increased to Rs 298 crore in Q1FY24, which was up both sequentially and on a YoY basis. In the last quarter of FY23, the movie exhibition cost reported by the company was at Rs 259.70 crore, while in the June quarter of the previous financial year it stood at Rs 240.70 crore.
During the quarter, the company added 31 screen openings across 5 properties. According to the filing, PVR INOX operates 361 cinemas with 1,707 screens in 114 cities as of July.
The company’s cinemas attracted an 11% increase in annual income for patrons who visited, reaching 3.39 crore. There was a 3% QoQ increase in the average ticket price of Rs 246. According to the company’s filing to the exchanges, the average cost per a head for food and beverages was Rs 130. This is 9% higher on a sequential basis.
April marked a quiet start to the quarter, with just a few Hindi movie releases. According to the filing, the box office increased in May with the release of ‘The Kerala Story’, which was the biggest release of this quarter.
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