Revenue from operations during the quarter jumped 191% to Rs 2,000 crore against Rs 686 crore in the same quarter of last year.
The company reported an EBITDA of Rs 706 crore during the second quarter, which also jumped multifold from Rs 154 crore in the corresponding quarter of the previous year.
EBITDA margins improved significantly to 35.3% in the reporting period, compared with 22.4% a year ago.
PVR Inox said the merger became effective from February 6, 2023, and hence the second quarter results for the company are reported on a merged basis and are not comparable with earlier periods.
On an adjusted basis, the profit came in at Rs 207 crore as against a loss of Rs 56 crore last year. Meanwhile, revenues nearly tripled to Rs 2,020 crore from Rs 701 crore a year ago.
During the quarter, admissions surged by 64% to 4.84 crore from 2.96 crore in the same period of last year. Similarly average ticket price and food and beverage spend per head witnessed YoY growth of 25% and 15%, reaching Rs 276 and Rs 136.This robust performance led to a 109% increase in ticket sales, an 89% rise in food and Beverage sales, and a 41% boost in ad sales when compared to proforma figures from the second quarter.
Food and beverage spending per head also touched a record Rs 136 during the quarter.
In the reporting period, the company opened 37 new screens across 7 properties. It operates a total of 358 cinemas with 1,702 screens across India at the end of September quarter.
The company got a blockbuster boost from ‘Jawaan’ and ‘Gadar 2’, which were ranked among highest-grossing Hindi films of all time, during the second quarter. Further, Hollywood releases of ‘Oppenheimer’ and ‘Mission Impossible’ also helped clock record numbers.
In the upcoming months, PVR Inox said it is highly optimistic about the content lineup across various languages.
“Following our recent merger, we have been diligently working to realize the full potential of this strategic union. We are pleased to report that the integration process has been progressing seamlessly, yielding substantial operational efficiencies,” it added.
On Thursday, the company’s shares were trading 0.37% lower at Rs 1,766.45 on NSE.
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