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  • FY-2016: Inox PAT almost quadruples

    FY-2016: Inox PAT almost quadruples

    BENGALURU: Inox Leisure Limited (Inox) reported almost quadrupling (3.87 times) of profit after tax (PAT) for the year ended 31 March 2016 (FY-2016, current year). The company reported PAT of Rs 77.49 crore (5.8 per cent margin on total income from operations or TIO) in the current year as compared to the Rs 20.04 crore (2 per cent margin on TIO) in the previous year.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    PAT for the quarter ended 31 March 2016 (Q4-2016, current quarter) was 16.12 crore (5.6 per cent margin on TIO). During the corresponding quarter of the previous year, the company had reported a loss of Rs 4.06 crore, while PAT in the immediate trailing quarter was 3.3 per cent lower at Rs 15.60 crore (4.6 per cent margin on TIO).

    TIO for the current year was 31.1 per cent higher at Rs 1,332.69 crore as compared to the Rs 1,016.81 crore in the previous year. TIO in Q4-2016 grew 31.8 per cent YoY to Rs 286.92 crore from Rs 217.75 crore, but declined 16 per cent quarter-on-quarter (QoQ) from Rs 341.71 crore.

    Company speak

    Commenting on the results, Inox Group of companies director and group head (Corporate Finance) Deepak Asher, said, “Good content coupled with our expansion across the country, with a world class movie viewing experience has helped us in maintaining our growth in the last quarter. We will continue this growth momentum with our consistent efforts in the forthcoming quarters for our guests and all the stakeholders”.

    Gross Box Office (GBOC)

    During FY-2016, as well as Q4-2016, the increase in TIO was driven by increase in Gross Box Office collection (GBOC) in the sale of food and beverages (F&B).

    Inox reported GBOC of Rs 904.94 crore for the current year, 34.4 per cent higher as compared to Rs 673.08 crore in the previous year. GBOC in Q4-2016 increased 41.7 per cent YoY to Rs 191 crore as compared to Rs 134.80 crore, but declined 17.2 per cent QoQ from Rs 230.69 crore.

    Performance of the top five movies by GBOC performance accounted for 42 percent of total GBOC collection in the current quarter. The top five movies in terms of GBO collection for Q4-2016 in descending order were: Airlift (Rs 29.8 crore GBOC or Gross Box Office Collection, 15 lakh footfalls); Neerja (Rs 17.3 crore GBOC, 10.5 lakh footfalls); Kapoor&Sons (Rs 15.7 crore GBOC, 8.5 lakh footfalls) Bajirao Mastani (Rs 9.8 crore, 5.6 lakh footfalls); and Wazir (9.2 crore GBOC, 5.1 lakh footfalls).

    Advertising, food and beverages and other operating revenues

    F&B sales in FY-2016 were Rs 265.63 crore, 39.1 per cent higher as compared to Rs 191.03 crore in FY-2015. This segment reported 52.3 per cent higher YoY sales at Rs 56.99 crore in Q4-2016 as compared to Rs 34.73 crores, but 13 per cent lower QoQ as compared to Rs 65.51 crore in the immediate trailing quarter.

    F&B spend per head in FY-2016 increased to Rs 58 from Rs 55 in FY-2016. In Q4-2016, F&B spend per head increased to Rs 58 from Rs 53 in Q4-2015.

    Revenue from advertising in FY-2016 increased 11.7 per cent to Rs 91.01 crore as compared to Rs 81.49 crore in FY-2015. In Q4-2016, advertising revenue declined 2 per cent to Rs 19.40 crore from Rs 19.79 crore in Q4-2015, and declined 34.2 per cent QoQ from Rs 29.49 crore.

    Other operating revenue in FY-2016 declined 0.2 per cent YoY to Rs 71.10 crore from Rs 71.21 crore. Other operating revenue declined 24.1 percent YoY in Q4-2016 to Rs 19.52 crore from Rs 25.73 crore, but increased 21.8 per cent QoQ from Rs 16.02 crore in Q3-2016.

    Footfalls, occupancy rates and average ticket price

    Footfalls for FY-2016 increased 30 per cent to 534 lakh from 411 lakh in FY-2015. Inox reported a 36 percent increase in footfalls in the current quarter at 115 lakh as compared to 84 lakh in Q4-2015, but a 10.9 per cent decline QoQ from 129 lakh in Q3-2016.

    Occupancy rate in the current year increased to 29 per cent from 25 per cent in FY-2015. Occupancy rate in Q4-2016 improved to 23 per cent from 20 per cent in Q4-2015, but was less than the 31 percent in Q3-2016.

    Average Ticket Price (APT) increased 3.7 per cent in FY-2016 to Rs 170 from Rs 164 in the previous year. ATP increased 5.7 per cent YoY to Rs 167 in the current quarter as compared to Rs 158, but declined 6.7 per cent QoQ from Rs 179.

    Entertainment Tax, Distributors share and F&B costs, rents, etc.

    Inox paid 43.1 per cent higher Entertainment Tax in FY-2016 at Rs 173.81 crore as compared to Rs 121.45 crore in the previous year. Entertainment Tax in Q4-2016 at Rs 35.61 crore was 56.5 per cent higher YoY than Rs 22.76 crore but was 19.8 percent lower QoQ entertainment tax as compared to Rs 44.40 crore.

    Distributors share (Exhibition cost) in FY-2016 was 30.5 per cent higher at Rs 325.30 crore as compared to Rs 249.32 crore in FY-2015. Distributors share in Q4-2016 at Rs 68.94 crore was 44.4 per cent higher YoY as compared to Rs 47.75 crore but was 18.5 per cent lower QoQ as compared to Rs 84.54 crore in Q3-2016.

    F&B costs in the current year were 34 per cent higher at Rs 66.41 crore as compared to Rs 49.55 crore in the previous year. F&B costs in Q4-2016 increased 37 percent YoY to Rs 14.18 crore as compared to Rs 10.35 crore, but declined 11.1 per cent QoQ from Rs 15.95 crore.

    Total Expense in the current year increased 26.1 per cent to Rs 1,223.06 crore from Rs 969.88 crore in FY-2015. Total Expense in the current quarter increased 29.8 percent YoY to Rs 292.59 crore from Rs 225.34 crore but declined 5.3 per cent QoQ from Rs 308.97 crore 

  • FY-2016: Inox PAT almost quadruples

    FY-2016: Inox PAT almost quadruples

    BENGALURU: Inox Leisure Limited (Inox) reported almost quadrupling (3.87 times) of profit after tax (PAT) for the year ended 31 March 2016 (FY-2016, current year). The company reported PAT of Rs 77.49 crore (5.8 per cent margin on total income from operations or TIO) in the current year as compared to the Rs 20.04 crore (2 per cent margin on TIO) in the previous year.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    PAT for the quarter ended 31 March 2016 (Q4-2016, current quarter) was 16.12 crore (5.6 per cent margin on TIO). During the corresponding quarter of the previous year, the company had reported a loss of Rs 4.06 crore, while PAT in the immediate trailing quarter was 3.3 per cent lower at Rs 15.60 crore (4.6 per cent margin on TIO).

    TIO for the current year was 31.1 per cent higher at Rs 1,332.69 crore as compared to the Rs 1,016.81 crore in the previous year. TIO in Q4-2016 grew 31.8 per cent YoY to Rs 286.92 crore from Rs 217.75 crore, but declined 16 per cent quarter-on-quarter (QoQ) from Rs 341.71 crore.

    Company speak

    Commenting on the results, Inox Group of companies director and group head (Corporate Finance) Deepak Asher, said, “Good content coupled with our expansion across the country, with a world class movie viewing experience has helped us in maintaining our growth in the last quarter. We will continue this growth momentum with our consistent efforts in the forthcoming quarters for our guests and all the stakeholders”.

    Gross Box Office (GBOC)

    During FY-2016, as well as Q4-2016, the increase in TIO was driven by increase in Gross Box Office collection (GBOC) in the sale of food and beverages (F&B).

    Inox reported GBOC of Rs 904.94 crore for the current year, 34.4 per cent higher as compared to Rs 673.08 crore in the previous year. GBOC in Q4-2016 increased 41.7 per cent YoY to Rs 191 crore as compared to Rs 134.80 crore, but declined 17.2 per cent QoQ from Rs 230.69 crore.

    Performance of the top five movies by GBOC performance accounted for 42 percent of total GBOC collection in the current quarter. The top five movies in terms of GBO collection for Q4-2016 in descending order were: Airlift (Rs 29.8 crore GBOC or Gross Box Office Collection, 15 lakh footfalls); Neerja (Rs 17.3 crore GBOC, 10.5 lakh footfalls); Kapoor&Sons (Rs 15.7 crore GBOC, 8.5 lakh footfalls) Bajirao Mastani (Rs 9.8 crore, 5.6 lakh footfalls); and Wazir (9.2 crore GBOC, 5.1 lakh footfalls).

    Advertising, food and beverages and other operating revenues

    F&B sales in FY-2016 were Rs 265.63 crore, 39.1 per cent higher as compared to Rs 191.03 crore in FY-2015. This segment reported 52.3 per cent higher YoY sales at Rs 56.99 crore in Q4-2016 as compared to Rs 34.73 crores, but 13 per cent lower QoQ as compared to Rs 65.51 crore in the immediate trailing quarter.

    F&B spend per head in FY-2016 increased to Rs 58 from Rs 55 in FY-2016. In Q4-2016, F&B spend per head increased to Rs 58 from Rs 53 in Q4-2015.

    Revenue from advertising in FY-2016 increased 11.7 per cent to Rs 91.01 crore as compared to Rs 81.49 crore in FY-2015. In Q4-2016, advertising revenue declined 2 per cent to Rs 19.40 crore from Rs 19.79 crore in Q4-2015, and declined 34.2 per cent QoQ from Rs 29.49 crore.

    Other operating revenue in FY-2016 declined 0.2 per cent YoY to Rs 71.10 crore from Rs 71.21 crore. Other operating revenue declined 24.1 percent YoY in Q4-2016 to Rs 19.52 crore from Rs 25.73 crore, but increased 21.8 per cent QoQ from Rs 16.02 crore in Q3-2016.

    Footfalls, occupancy rates and average ticket price

    Footfalls for FY-2016 increased 30 per cent to 534 lakh from 411 lakh in FY-2015. Inox reported a 36 percent increase in footfalls in the current quarter at 115 lakh as compared to 84 lakh in Q4-2015, but a 10.9 per cent decline QoQ from 129 lakh in Q3-2016.

    Occupancy rate in the current year increased to 29 per cent from 25 per cent in FY-2015. Occupancy rate in Q4-2016 improved to 23 per cent from 20 per cent in Q4-2015, but was less than the 31 percent in Q3-2016.

    Average Ticket Price (APT) increased 3.7 per cent in FY-2016 to Rs 170 from Rs 164 in the previous year. ATP increased 5.7 per cent YoY to Rs 167 in the current quarter as compared to Rs 158, but declined 6.7 per cent QoQ from Rs 179.

    Entertainment Tax, Distributors share and F&B costs, rents, etc.

    Inox paid 43.1 per cent higher Entertainment Tax in FY-2016 at Rs 173.81 crore as compared to Rs 121.45 crore in the previous year. Entertainment Tax in Q4-2016 at Rs 35.61 crore was 56.5 per cent higher YoY than Rs 22.76 crore but was 19.8 percent lower QoQ entertainment tax as compared to Rs 44.40 crore.

    Distributors share (Exhibition cost) in FY-2016 was 30.5 per cent higher at Rs 325.30 crore as compared to Rs 249.32 crore in FY-2015. Distributors share in Q4-2016 at Rs 68.94 crore was 44.4 per cent higher YoY as compared to Rs 47.75 crore but was 18.5 per cent lower QoQ as compared to Rs 84.54 crore in Q3-2016.

    F&B costs in the current year were 34 per cent higher at Rs 66.41 crore as compared to Rs 49.55 crore in the previous year. F&B costs in Q4-2016 increased 37 percent YoY to Rs 14.18 crore as compared to Rs 10.35 crore, but declined 11.1 per cent QoQ from Rs 15.95 crore.

    Total Expense in the current year increased 26.1 per cent to Rs 1,223.06 crore from Rs 969.88 crore in FY-2015. Total Expense in the current quarter increased 29.8 percent YoY to Rs 292.59 crore from Rs 225.34 crore but declined 5.3 per cent QoQ from Rs 308.97 crore 

  • Q3-2016: Inox YoY revenue up 13.6, PAT up 9.1%

    Q3-2016: Inox YoY revenue up 13.6, PAT up 9.1%

    BENGALURU: Inox Leisure Limited (Inox) reported 13.6 per cent year-on year (YoY) increase in consolidated Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 341.71 crore as compared to Rs 300.76 but 3.8 per cent lower quarter-on-quarter (QoQ) as compared to Rs 355.38 crore.

    The YoY increase was driven by a 14.3 per cent YoY increase in gross box office (GBO) collection and a 17.8 per cent YOY increase in Food & Beverages (F&B) revenue in the current quarter. Inox reported GBO collection at Rs 230.69 crore as compared Rs 201.75 crore in Q3-2015. F&B revenue in the current quarter was Rs 65.16 crore as compared to Rs 55.63 crore in the corresponding prior year quarter. GBO collection and F&B revenue in the current quarter however declined 5.4 per cent each as compared to Rs 243.87 crore and Rs 69.24 crore respectively.

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

    (2) Figures include Satyam Cineplexes Limited, which became wholly owned subsidiary of the company on 8 August 2014.

    Improved Box Office performance of a number of movies saw the company’s PAT in the current quarter increase 9.1 per cent YoY to Rs 15.60 crore (4.6 per cent margin) as compared to Rs 14.30 crore (4.8 per cent margin). PAT in the current quarter however declined 23.9 per cent QoQ as compared to Rs 20.51 crore (5.8 per cent margin) in the immediate trailing quarter.

    Performance of the top five movies by GBO performance accounted for 48 per cent of total GBO collection in the current quarter.

     

    The top five movies in terms of GBO collection in descending order were:

    1) Prem Ratan Dhan Payo: Rs 29.8 crore, 15 lakh footfalls

    2) Bajirao Mastani: Rs 29.6 crore, 14 lakh footfalls

    3) Dilwale: Rs 21.8 crore, 10 lakh footfalls

    4) Tamasha: Rs 16.3 crore, 9 lakh footfalls

    5) Pyaar Ka Punchnama 2: Rs 12.4 crore, 8 lakh footfalls

     

    Footfalls, occupancy rates & average ticket price

    Inox reported a 11 per cent increase in footfalls in the current quarter at 129 lakh as compared to the 116 lakh in the corresponding year ago quarter and 11 per cent lower QoQ as compared to 145 lakh in Q2-2016.

    Occupancy rate in Q3-2016 improved to 31 per cent as compared to the 27 per cent in Q3-2015 and slightly lower than the 32 per cent in the immediate trailing quarter.

    Average Ticket Price (APT) increased 32.3 per cent YoY in Q3-2016 to Rs 179 as compared to Rs 175 and increased 7.2 per cent QoQ as compared to Rs 167 in the immediate trailing quarter.

     

    Advertising, food & beverages & other operating revenues

    The company reported two per cent higher YoY advertising revenue in Q3-2016 at Rs 29.49 crore as compared to Rs 28.92 crore and 37.8 per cent higher QoQ as compared to Rs 21.40 crore in Q21-2016.

    Food and Beverages revenue (F&B) has been mentioned above.

    Other operating revenue increased 10.8 per cent YoY to Rs 16.02 crore in the current quarter as compared to Rs 14.46 crore, but declined 23.2 per cent as compared to Rs 20.87 crore in Q2-2016.

     

    Entertainment Tax, Distributors share and F&B costs, rents, etc

    Inox paid 16.5 per cent higher YoY entertainment tax in Q3-2016 at Rs 44.40 crore as compared to Rs 38.12 crore, but 6.7 per cent lower QQoQ as compared to Rs 47.57 crore in Q2-2016.

    Distributors share (exhibition cost) in Q3-2016 at Rs 64.54 crore declined 14.4 per cent as compared to Rs 75.37 crore and declined 25.5 per cent QoQ as compared to Rs 86.61 in Q2-2016.

    F&B costs in Q3-2016 increased 17.5 per cent YoY to Rs 15.95 crore as compared to Rs13.58 crore, but declined 9.4 per cent as compared to Rs 17.6 crore in Q2-2016.

    Total Expense in the current quarter increased 12.4 per cent YoY to Rs 308.97 crore as compared to Rs 274.89 crore, but reduced three per cent QoQ as compared to Rs 318.63 cror

     

  • Q3-2016: Inox YoY revenue up 13.6, PAT up 9.1%

    Q3-2016: Inox YoY revenue up 13.6, PAT up 9.1%

    BENGALURU: Inox Leisure Limited (Inox) reported 13.6 per cent year-on year (YoY) increase in consolidated Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 341.71 crore as compared to Rs 300.76 but 3.8 per cent lower quarter-on-quarter (QoQ) as compared to Rs 355.38 crore.

    The YoY increase was driven by a 14.3 per cent YoY increase in gross box office (GBO) collection and a 17.8 per cent YOY increase in Food & Beverages (F&B) revenue in the current quarter. Inox reported GBO collection at Rs 230.69 crore as compared Rs 201.75 crore in Q3-2015. F&B revenue in the current quarter was Rs 65.16 crore as compared to Rs 55.63 crore in the corresponding prior year quarter. GBO collection and F&B revenue in the current quarter however declined 5.4 per cent each as compared to Rs 243.87 crore and Rs 69.24 crore respectively.

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

    (2) Figures include Satyam Cineplexes Limited, which became wholly owned subsidiary of the company on 8 August 2014.

    Improved Box Office performance of a number of movies saw the company’s PAT in the current quarter increase 9.1 per cent YoY to Rs 15.60 crore (4.6 per cent margin) as compared to Rs 14.30 crore (4.8 per cent margin). PAT in the current quarter however declined 23.9 per cent QoQ as compared to Rs 20.51 crore (5.8 per cent margin) in the immediate trailing quarter.

    Performance of the top five movies by GBO performance accounted for 48 per cent of total GBO collection in the current quarter.

     

    The top five movies in terms of GBO collection in descending order were:

    1) Prem Ratan Dhan Payo: Rs 29.8 crore, 15 lakh footfalls

    2) Bajirao Mastani: Rs 29.6 crore, 14 lakh footfalls

    3) Dilwale: Rs 21.8 crore, 10 lakh footfalls

    4) Tamasha: Rs 16.3 crore, 9 lakh footfalls

    5) Pyaar Ka Punchnama 2: Rs 12.4 crore, 8 lakh footfalls

     

    Footfalls, occupancy rates & average ticket price

    Inox reported a 11 per cent increase in footfalls in the current quarter at 129 lakh as compared to the 116 lakh in the corresponding year ago quarter and 11 per cent lower QoQ as compared to 145 lakh in Q2-2016.

    Occupancy rate in Q3-2016 improved to 31 per cent as compared to the 27 per cent in Q3-2015 and slightly lower than the 32 per cent in the immediate trailing quarter.

    Average Ticket Price (APT) increased 32.3 per cent YoY in Q3-2016 to Rs 179 as compared to Rs 175 and increased 7.2 per cent QoQ as compared to Rs 167 in the immediate trailing quarter.

     

    Advertising, food & beverages & other operating revenues

    The company reported two per cent higher YoY advertising revenue in Q3-2016 at Rs 29.49 crore as compared to Rs 28.92 crore and 37.8 per cent higher QoQ as compared to Rs 21.40 crore in Q21-2016.

    Food and Beverages revenue (F&B) has been mentioned above.

    Other operating revenue increased 10.8 per cent YoY to Rs 16.02 crore in the current quarter as compared to Rs 14.46 crore, but declined 23.2 per cent as compared to Rs 20.87 crore in Q2-2016.

     

    Entertainment Tax, Distributors share and F&B costs, rents, etc

    Inox paid 16.5 per cent higher YoY entertainment tax in Q3-2016 at Rs 44.40 crore as compared to Rs 38.12 crore, but 6.7 per cent lower QQoQ as compared to Rs 47.57 crore in Q2-2016.

    Distributors share (exhibition cost) in Q3-2016 at Rs 64.54 crore declined 14.4 per cent as compared to Rs 75.37 crore and declined 25.5 per cent QoQ as compared to Rs 86.61 in Q2-2016.

    F&B costs in Q3-2016 increased 17.5 per cent YoY to Rs 15.95 crore as compared to Rs13.58 crore, but declined 9.4 per cent as compared to Rs 17.6 crore in Q2-2016.

    Total Expense in the current quarter increased 12.4 per cent YoY to Rs 308.97 crore as compared to Rs 274.89 crore, but reduced three per cent QoQ as compared to Rs 318.63 cror

     

  • Q1-2016: Inox y-o-y box office collections up 53%, PAT more than quadruples

    Q1-2016: Inox y-o-y box office collections up 53%, PAT more than quadruples

    BENGALURU: Inox Leisure Limited reported 53 per cent increase in box office collection (GBO) to Rs 239.38 crore (68.7 per cent of Total Revenue or TR) in the quarter ended 30 June, 2015 (Q1-2016) as compared to the Rs 156.56 crore (67.4 per cent of TR) in Q1-2015 and a whopping 77.5 per cent more than the Rs 134.80 crore (61.9 per cent of TR) in Q4-2015, hence reversing falling GBO trend in FY-2015.

     

    Performance of movies like Tanu Weds Manu Returns (GBO Rs 31.11 crore, 19 lakh footfalls); Piku (GBO Rs 21.80 crore, 13 lakh footfalls), Furious 7 (GBO Rs 18.93 crore, 11 lakh footfalls), ABCD2 (GBO Rs 18.45 crore, 10 lakh footfalls) and Avengers-Age of Ultron drove the resurgence in revenue as well profit after tax (PAT).

     

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

             (2) Figures include Satyam Cineplexes Limited, which became wholly owned subsidiary of the company on 8 August, 2014.

    The company’s PAT in Q1-2016 more than quadrupled (up 4.52 times) to Rs 25.26 crore (7.2 per cent margin) as compared to the Rs 4.52 crore (two per cent margin) in Q1-2015. Inox had reported a loss of Rs 4.06 crore in the immediate trailing quarter.

     

    The company’s TR in Q1-2016 at Rs 348.68 crore was 50 per cent more than the Rs 232.38 crore in Q1-2015 and was 60 per cent more than the Rs 217.75 crore in Q4-2015.

     

    Footfalls, occupancy rates and average ticket price:

     

    Inox reported 1.45 crore footfalls in Q1-2016 and an occupancy rate of 33 per cent as compared to the 0.99 crore footfalls and an occupancy rate of 26 per cent in Q1-2015 and 0.82 crore footfalls and an occupancy rate of 20 per cent in the immediate trailing quarter.

     

    Average ticket price (ATP) in Q1-2016 increased to Rs 165 as compared to Rs 159 in the corresponding year ago quarter and Rs 164 in the previous quarter.

     

    Advertising, food and beverages and other operating revenues:

     

    The company reported 38.5 per cent higher advertising revenue in Q1-2016 at Rs 20.72 crore (5.9 per cent of TR) from Rs 14.96 crore (6.4 per cent of TR) in Q1-2015 and was 4.7 per cent more than the Rs 19.79 crore (9.1 per cent of TR) in Q4-2015.

     

    Food and Beverages (F&B) revenue in Q1-2016 increased 45.5 per cent to Rs 73.89 crore (21.2 per cent of TR) as compared to the Rs 47.21 crore (20.3 per cent of TR) in Q1-2015 and almost doubled (up 97.4 per cent) as compared to the Rs 37.43 crore (17.2 per cent of TR) in Q4-2015.

     

    Other operating revenue increased 7.8 per cent to Rs 14.70 crore (4.2 per cent of TR) in Q1-2016 from Rs 13.64 crore (5.9 per cent of TR) in Q1-2015, but fell 42.9 per cent as compared to the Rs 25.73 crore (11.8 per cent of TR) in Q4-2015.

     

    Entertainment Tax, distributors’ share, F&B costs, rents, et al:

     

    Inox paid 61.8 per cent higher entertainment tax in Q1-2016 at Rs 42.63 crore (13.3 per cent of TR) as compared to the Rs 28.57 crore (12.3 per cent of TR) in Q1-2015 

    and more than double (2.03 times) the Rs 22.76 crore (10.5 per cent of TR) in Q4-2015.

     

    Distributors’ share in Q1-2016 at Rs 85.21 crore was (24.4 per cent of TR, 35.6 per cent of GBO) was 45.9 per cent more than the Rs 58.40 crore (25.1 per cent of TR, 37.3 per cent of GBO) in Q1-2015 and was 78.5 per cent more than the Rs 47.75 crore (20.5 per cent of TR, 37.7 per cent of GBO) in Q4-2015.

     

    F&B costs in Q1-2016 increased 50 per cent to Rs 18.38 crore (5.3 per cent of TR) as compared to the Rs 12.25 crore (5.3 per cent of TR) and was 77.6 per cent more than the Rs 10.35 crore (4.8 per cent of TR) in Q4-2015.

     

    Inox paid 26.9 per cent higher property rent, conducting fees and common facility charges (rent) in Q1-2016 at Rs 49.05 crore (14.1 per cent of TR) as compared to the Rs 38.64 crore (16.6 per cent of TR) in Q1-2015 and 5.2 per cent more than the Rs 46.63 crore (21.4 per cent of TR) in Q4-2015.

  • INOX makes third acquisition in a decade as it takes over Satyam chain of multiplexes

    INOX makes third acquisition in a decade as it takes over Satyam chain of multiplexes

    NEW DELHI: The total number of screens under the INOX umbrella has gone up to 514 screens in 127 properties in 64 cities after the acquisition of Satyam Cineplex for Rs 182 crore.

     

    INOX Leisure executed the transaction documents for acquisition of the New Delhi headquartered Satyam chain by way of acquiring 100 per cent equity share capital of Satyam from its existing shareholders, subject to closing.

     

    The proposed acquisition of one of the industry’s prime assets is a part of INOX’s strategy to expand its footprint across the country and gives INOX a significant foothold in the north Indian region.

     

    This marks the third acquisition for INOX in less than a decade. “Earlier, the company acquired Calcutta Cine in 2007, which triggered the consolidation phase in the multiplex industry. This was followed by the acquisition of Fame India in 2010,” INOX CEO Alok Tandon told indiantelevision.com.

     

    “The current acquisition would add 38 screens to INOX’s property,” he said.

     

    As INOX would be paying Rs 182 crore towards acquisition of these properties, the valuation of each screen works out to Rs 4.79 crore.

     

    He strongly denied charges that all multiplexes are highly priced, thus making them inaccessible to the average cinegoer. He said his group adopted what he called ‘flexi-pricing’ which allowed them to fix different rates for different days. Thus, the weekend may be expensive, but the price of the ticket on week-days starts from as low as Rs 55.

     

    Asked about creating a buzz about the new acquisitions, he said apart from press meets, print and social media would also be used to publicise the new takeover. 

     

    Earlier, Tandon said at a press meet, “We are looking forward to make this integration work positively for our stakeholders, INOX and Satyam employees as well as our guests. We look forward to a smooth merger of best practices of both the companies. We are excited and ready to bring in the best movie viewing experience to our guests in these multiplexes,” he added.

     

    INOX group director Deepak Asher said, “It has been our strategy to expand our multiplex business both organically and inorganically over the years. With this acquisition, we will strengthen our position further in the Industry as well as in the country, especially north India.”

     

    Sounding optimistic about the current acquisition, he went on to add, “Over the next few months, we will evaluate the full benefits of integration and consolidation, to drive competitive advantage across the value chain, and consider our strategic options in accordance with regulatory guidelines.”

     

    Satyam MD Deven Chachra said, “We have painstakingly built this business, and while it is hard to see that one has built with one’s own hands go, I have confidence and faith that INOX will nurture it and take it to greater heights.”

     

    Grant Thornton Advisory acted as sole financial advisors and Khaitan & Co acted as legal advisors to INOX Leisure. BMR Advisors acted as sole financial advisors and Luthra & Luthra Law Offices acted as legal advisors to the shareholders of Satyam Cineplexes.

  • Satyam’s BPO outfit bags $25 million contract, in talks for another $10 million order

    Satyam’s BPO outfit bags $25 million contract, in talks for another $10 million order

    MUMBAI: Nipuna Services Ltd, the BPO subsidiary of IT major Satyam Computer Services, has bagged a $25 million animation outsourcing deal. The company is also in negotiations to work on a $10 million contract for another TV series animation project.

    Earlier in the year, Nipuna signed a $9 million deal to provide services for a movie called First Fear which is set for release by June 2007. “We are expecting to bag a fresh contract for around $10 million. The German company will take a call based on the TV episodes that we come up with. We have already signed with this company for $25 million to produce TV series and a movie,” Nipuna chief financial officer M Satyanarayana tells Indiantelevision.com.

    Nipuna will engage UK-based 4K Animation Ltd for the execution and delivery of these projects along with its own battery of 120 professionals over a period of 18 months. The two ‘iconic’ European animation projects include the third season of “Marvi Hemmer Presents National Geographic World,” an award-winning, 52- episode TV series, and a movie, also featuring Marvi Hammer.

    “We will pay a fee to 4K for their services as they will be sending technical professionals from all over the world to work in India and help us in the project. The exact amount will be finalised when we know how many people and working hours we would need from them,” says Satyanarayana.

    For First Fear, Nipuna had paid 4K around $3.25 million. By partnering with 4K, Nipuna is able to source talent from across the world to execute the projects.

    The delivery period for the TV series will start from now and is expected to finish within nine months. The work for the movie will start from April and stretch over 12 months, according to Satyanarayana.

    The series and movie feature a combination of live action and animation. They include actual studio sets used as animation backgrounds, a furry computer graphics creature and 2D-animated characters. Hamburg-based YOUA Edutainment, National Geographic, and German broadcaster ZDF will co-produce the series and movie.

    Nipuna will provide VFX, CGI, 3D and 2D animation services, including pre-production, production, and post-production, from its studio in Chennai. Other animation artists will also collaborate from Hamburg and Berlin for this project delivery.

    Says Nipuna CEO Venkatesh Roddam, “This partnership reflects a growing trend toward ‘corporatization’ in the animation industry, which is leading to increasingly significant opportunities. Long-term contracts such as this one show that companies recognize Nipuna’s capabilities in an industry where ‘human resources’ are integral to quality, and thereby responsible for the success of creative ventures.”

    Nipuna has built significant VFX, CGI, and 3D animation skills by producing numerous global and domestic films. Among the more than 40 Indian films for which it has handled animation projects are Sainikudu, Stalin, Pokhiri, and Belly Full of Dreams. Nipuna also provides artwork and visualization services involving 2D and/or 3D animation techniques and processes to customers in the engineering, architectural, and medical industries.

    Nipuna expects to close this fiscal with a turnover of $40 million, out of which