Movies

Inox joins other plexes to post Q1 loss

MUMBAI: After Cinemax and Adlabs Films, it is Inox Leisure’s turn to slip into the red as first-quarter revenues went for a toss on account of the row with film producers.

Inox posted a consolidated net loss of Rs 40.1 million for the quarter ended 30 June, as against a net profit of Rs 36.8 million a year ago, as it was hurt by low occupancy.


Total revenue stood at Rs 345.1 million, down 33.67 per cent as producers froze their content to the multiplexes against a revenue-share dispute.


Inox curtailed its expenses by 15.81 per cent to Rs 400.5 million, down from Rs 475.7 million in the prior-year quarter.


The multiplex business segment had an operating loss of Rs 55.8 million, compared to an operating profit of Rs 48.3 million in the first quarter of FY‘09. Revenue from this segment was Rs 344.4 million, down from Rs 517 million. The capital deployed in the segment is Rs 3.27 billion.


The film distribution segment, on the other hand, reduced the operating loss to Rs 1.7 million, from Rs 7.8 million in the same quarter of the previous fiscal. Revenue, however, dipped to Rs 1 million, from Rs 11.4 million a year ago.

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