PVR INOX Q4 2024 Results: Loss of Rs. 130 cr, Consolidated Revenue up by 12.07% on a YOY basis

Synopsis:

PVR INOX Limited announced its quarterly results for the period ending in March 2024 on 14th May. It reported a consolidated loss of ₹129.70 cr for Q4 FY2024. Its total consolidated revenue for Q4 FY2024 increased by 12.07% on a YOY basis reaching ₹1305.50 cr.

Quarter result performance

The company’s total consolidated revenue for Q4 FY2024 increased by 12.074% on a YOY basis, reaching ₹1305.50 cr from ₹1164.90 cr in Q4 FY2023. The quarterly revenue has reduced by 18.65%. PVR INOX reported a consolidated loss of ₹129.70 cr for Q4 FY2024 from a net loss of ₹334 cr in Q4 FY2023, which is an improvement of 61.17%. On a quarterly basis, the PAT decreased by 1113.28%. Adjusted EBITDA for the quarter was ₹35.20 cr against ₹26.90 cr in Q4 FY2023, an increase of 41% on a YOY basis.

For the full financial year ending in March 2024, the consolidated net loss stood at ₹32.70 cr compared to a net loss of ₹336.40 cr in FY 2023, an improvement of 90.27%. For FY 2024, its consolidated total revenue stood at ₹6263.70 cr compared to ₹3829.70 cr in FY 2023, which is an increase of 63.55%. Adjusted EBITDA stood at ₹808.70 cr for FY2024 against ₹388.60 in FY2023, up by 108.10%.

PVR INOX also reported Patrons visit for the quarter at 32.6 million. It opened a total of 6 new properties with 33 new screens in Q4 FY2024. For the entire FY2024, the numbers are 1748 screens in 360 cinemas across 112 Indian cities. Its net debt was also reduced by ₹136.40 cr for FY2024. The company also generated a free cash flow of ₹115.80 cr.

Commenting on the performance Ajay Bijli, Managing Director, PVR INOX said, “The key strategic priorities as envisaged above, should help the company in charting a new, less capital intensive and incrementally profitable growth path. Our endeavour is to redefine our growth strategy, focus on fixed cost reduction thus improving profitability resulting in enhanced return on capital and free cash flow generation.”

About PVR INOX Limited

PVR INOX Ltd is a leading name in India's film entertainment industry and was founded in 1997. It operates in the Movies, Music, and Entertainment industry. The company has diversified its operations beyond movies to include ventures like restaurants and bowling.