Mumbai: PVR Inox has reported its Q2 FY25 financial results, indicating a quarter of mixed performance as the company navigates post-pandemic recovery and strategic adjustments. Revenue reached Rs 16.2 billion, marking a 36.2 per cent increase quarter-over-quarter (QoQ), though it declined 18.9 per cent year-over-year (YoY). This growth was driven by a resurgence in Hindi films and improved footfall, which rose 27.6 per cent QoQ, although occupancy rates remained below pre-covid levels.
The company’s EBITDA stood at Rs 4.7 billion, down 32.2 per cent YoY but up significantly by 90.6 per cent QoQ, with a post-IndAS EBITDA margin of 29.5 per cent. However, net losses persisted at Rs 0.1 billion for Q2 FY25, compared to a Rs 1.7 billion loss in Q1 FY25. Average ticket prices (ATP) and spend per head (SPH) showed growth, increasing 9.4 per cent and 2 per cent QoQ, respectively, signalling steady progress despite challenges.
The balance sheet reflects a cautious but optimistic outlook. Total borrowings declined from Rs 17.9 billion in FY23 to Rs 17.2 billion in FY24, indicating the company’s efforts to reduce debt. Free cash flow turned positive, helping to stabilise liquidity, and cash reserves grew from Rs 3.3 billion to Rs 3.9 billion over the same period. However, with profit margins still tight and interest expenses continuing to rise, sustained improvement in box office performance and cost management will be essential to achieve profitability.
Looking ahead, PVRInox anticipates strong performance during the festive season, driven by major releases such as “Singham Again”, “Pushpa 2,” and “Bhool Bhulaiyaa 3”. The company remains optimistic about reaching a 32 per cent occupancy rate in Q3, supported by a robust content lineup.