OTT effect? PVR Inox reports ₹12 crore loss in Q2FY25
PVR Inox has posted a consolidated net loss of ₹12 crore for the second quarter of the fiscal year 2025 (Q2 FY25). This marks a major decline from the same quarter last year when India's leading multiplex company had reported a net profit of ₹166 crore. Unaffected by the disappointing results, the company's shares ended in the green today, closing 1.93% up at ₹1,620.75 each.
PVR Inox's revenue and EBITDA decline in Q2 FY25
PVR Inox's revenue for Q2 FY25 declined by 19% to ₹1,622 crore, down from ₹2,000 crore in the same quarter of the previous fiscal year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also fell from ₹700 crore in Q2 FY24 to ₹479 crore this quarter. As a result, the EBITDA margin fell to 29.55% from 35.34% year-on-year.
Box office hits and misses influence PVR Inox's performance
In Q2 FY25, films like Stree 2, The Greatest of All Time (GOAT), Devara (Part 1), and Deadpool & Wolverine crossed the ₹100 crore mark. However, the total box office collection for January-August releases was down by 7.5% from last year at ₹6,868 crore. The net Hindi box office is expected to decline by 31% year-on-year in Q2 FY25 due to a higher base of Jawan, Gadar 2, and OMG 2 last year.
PVR Inox's footfall and ticket prices see changes
PVR Inox's footfalls rose to 3.88 crore from 3.04 crore in Q1 FY25, but fell 19.9% year-on-year to 4.84 crore. The company's average ticket price also dropped 6.7% to ₹257 in Q2 from ₹276 during the same period last year, while spend per head remained stable at ₹136. Analysts had anticipated the average ticket price to increase to ₹254 from ₹235 in Q1 FY25 and spend per head (SPH) to marginally rise to ₹135 from ₹134 in Q1 FY25.
