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Tag: multiplex chain

  • PVR Q3 results: Revenue surges 5.3x QoQ, 36% below pre-Covid levels

    PVR Q3 results: Revenue surges 5.3x QoQ, 36% below pre-Covid levels

    Mumbai: Multiplex chain PVR has reported a revenue surge of 5.3 times QoQ and approximately nine times YoY to Rs 5.9 billion in the third quarter ending 31 December 2021. 

    Occupancies remained soft at eight per cent, but saw a strong improvement to nearly pre-Covid levels by the end of Q3’FY2022. This was offset by a 26 per cent ATP (Average Ticket Price) increase to Rs 255. Spends/head (SPH) remained constant at Rs 128, PVR said in a statement.

    The total screen count improved to 860 from 855 in Q2’FY2022. PVR added five screens in Q3’FY2022 and 40, or five per cent, since the pre-Covid (Q3’FY2020) period. The company’s net loss narrowed down to Rs 220 million.

    The business has been impacted by the third Covid-19 wave. However, as releases in February and March 2022 have not been postponed, a quick recovery is expected once the situation normalises, said the company.

    At present, multiplexes have an exclusive window of four weeks. This is expected to return to the pre-Covid standard of eight weeks after March, it added.

    Currently, PVR is focusing on the completion of screens that are in the pipeline. It expects to resume the pace of additions (80-100 screens pre-Covid) as soon as normalcy returns.

  • PVR launches three-screen multiplex in Bhopal

    PVR launches three-screen multiplex in Bhopal

    MUMBAI: With an aim to strengthen its presence across the country, multiplex chain PVR Cinemas has opened a new property in Bhopal, Madhya Pradesh.

    With the opening of this multiplex at Bhopal, the total screen count for the chain has gone up to 457 screens at 103 locations across 44 cities in 14 states and one union territory.

    The multiplex, which will be operational from 16 January, is located at the Aura Mall in Arena Colony, Bhopal. PVR’s new three screen multiplex is fitted with latest sound and projection system.

    The opening of this cinema is a part of PVR’s organic growth strategy of PAN India expansion.

     

  • Inox reports lower PAT for Q3-2014

    Inox reports lower PAT for Q3-2014

    BENGALURU: Despite higher average ticket price during the quarter, India’s largest multiplex chain – Inox Leisure (Inox) reported a 38.4 per cent drop in PAT to Rs 6.58 crore as compared to the PAT of Rs 10.62 crore y-o-y and a drop of 35.04 per cent from the Rs 10.13 crore PAT reported during the immediate trailing quarter (Q2-2014).

     

    Inox reported total revenue of Rs 214.27 crore for Q3-2014 which was 2.94 per cent more than the Rs 208.15 crore in Q3-2013, but 9.54 per cent lower than the Rs 236.86 crore in Q2-2014.

     

    Though the average price of ticket during Q3-2014 at Rs 163 was 1.88 per cent higher than the average price of ticket of Rs 160 during FY-2013, Inox saw a 1.7 per cent fall in income from operations during Q3-2014 to Rs 200.37 crore from Rs 203.84 crore in the corresponding quarter of last year. Operating Income during Q3-2014 was 12.07 per cent lower than the Rs 227.88 crore of Q2-2014. Lower revenue coupled with lower Exhibition cost and lower Entertainment tax paid by the company seem to indicate a lower occupancy rate, despite tax rebates/waivers in some territories and for some movies, if applicable.

     

    Let us look at the other numbers reported by Inox for Q3-2014…

     

    Total expense for Q3-2014 at Rs 200.36 crore was 7.56 per cent more than the Rs 186.28 crore in Q3-2013 and 4.28 per cent lower than the Rs 209.32 crore in Q2-2014.

     

    As mentioned above, the company paid lower entertainment tax and exhibition cost during the current quarter. Inox paid Rs 25.31 crore as Entertainment Tax during Q3-2014 which was 10.44 per cent lower than the Rs 28.26 crore tax in Q3-2013 and 14.78 per cent lower than the Rs 29.7 crore in Q2-2014.

     

    Exhibition cost incurred at Rs 58.48 crore during Q3-2014 was 5.91 per cent lower than the Rs 57.9 crore in Q3-2013 and 12.41 per cent lower than the Rs 62.2 crore in Q2-2014.

     

    Inox paid 16.9 per cent more towards property rent, conducting fees and common facilities charges during Q3-2014 at Rs 34.58 crore as compared to the Rs 29.58 crore during Q3-2013 and 0.88 per cent more than the Rs 35.28 crore in Q2-2014.

     

    33.41 per cent hike in ‘Other Expenses’ to Rs 48.48 crores in Q3-2014 from Rs 36.64 crore in Q3-2013 and 7.02 per cent from Rs 45.30 crore in Q2-2014 further dented profitability of the company. Also, 22.36 per cent higher Employee cost during Q3-2014 at Rs 13.9 crore as compared to the Rs 11.36 crore in Q3-2013 and 18.6 per cent more than the Rs 11.72 crore in Q2-2014 played a part in damping the profits during the current quarter.

     

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