PVR INOX, the megalith of multiplexes in India, is facing severe losses continuously. It had recorded the losses of Rs. 178.7 Crores in April-June of 2024. Previous year, it had losses of Rs. 81.6 Crores in the same month.
Financial analysts had estimated the losses for Q1 in FY25 to be at Rs. 174 Crores. They also expected an eight percent year-on-year (YoY) decline in revenue due to below-par performance of movies.
The Average Ticket Price (ATP) fell 4.7% to Rs. 235 in Q1 from Rs. 246 in Q4 FY24 while Spend Per Head (SPH) increased 3.1% YoY to Rs. 134 from Rs. 130.
There has been a 13% drop in the number of cinemas that are being released. Last year in Q1, we had 238 movie releases. This year we have only 208 movies.
On June 27, Kalki became the biggest movie of the year, contributing nearly 16% to the quarterly box office in just four days and grossing over Rs. 1,000 crore globally to date.
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