Movies

Inox reports 2Q loss of Rs 22 crore

The Ebitda crashed by 97 per cent to Rs 3 crore compared to the 2020 2Q fiscal.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2022/10/20/inox-movie.jpg?itok=BYXwKp-J

Mumbai: Hit by the poor performance of Bollywood, multiplex operator Inox Leisure has reported a second quarter 2023 fiscal loss of Rs 22 crore compared with a profit after tax of Rs 51 crore in the same period of the 2020 fiscal. When compared to the same period in the 2020 fiscal, Ebitda (earnings before interest, taxes, depreciation, and amortisation) fell by 97 percent to three crore rupees.

Revenue dropped by 27 per cent to Rs 381 crore. While the spending per head went up by 29 per cent, the number of footfalls went down by 39 per cent. Occupancy was down by 13 per cent. The average ticket price rose by 10 per cent. Inox said that the 2021 and 2022 fiscals were hit by the pandemic, and therefore it has taken the 2020 fiscal as a comparison.

Inox had a net profit of Rs 57.09 crore in the first quarter of the 2023 fiscal. Revenue from operations was Rs 582.26 crore in the first quarter of the 2023 fiscal.

For the first half of the 2023 fiscal, profit after tax declined by 43 per cent to Rs 53 crore compared to the same period in the 2020 fiscal. Ebitda fell by 33 per cent to Rs 134 crore. Revenue fell marginally by five per cent to Rs 970 crore.

The company said that it expects a great turnaround in the business going forward thanks to a content lineup in the upcoming quarters with releases like Ram Setu, Thank God, Drishyam 2, Bhedia, Phone Bhoot, Cirkus, Black Adam, Black Panther: Wakanda Forever, and Avatar: The Way of Water, complimented with consumer-centric innovations. The company added 30 screens in the first half of the fiscal, which it said was the highest screen addition in the industry. The company added two new properties with 13 screens in the second quarter; a 10-screen Inox Megaplex at Emerald Mall, Lucknow and a three-screen multiplex in Srinagar. Inox revived cinema in Kashmir after a gap of 32 years with the launch of the first multiplex in Srinagar. The three-screen cinema brings the contemporary giant-screen movie watching experience back to the region.

Furthermore, the company plans to add 11 properties and 47 screens in FY23.

The company reported its best ever quarterly SPH, which was largely driven by the rigorous efforts around F&B. Critical additions to the menu, introduction of seasonal specialties, timely and result-oriented marketing initiatives, interactive culinary sessions and workshops and numerous process innovations have led to a solid recovery on the F&B revenues.

Inox Leisure director Siddharth Jain said, "Pandemic has taught us to remain battle-fit and come up with answers to difficult situations. The second quarter of FY23 was impacted by the inconsistency in the content value chain, proving the importance of great quality content yet again. We are delighted with our promising performance on the F&B front, with our highest ever quarterly spend per head. Our foray into Kashmir with the region’s first multiplex marked the revival of cinemas in the valley, and we are quite upbeat about this historic launch, which underlines our desire to entertain India across its length and breadth. The spectacular content pipeline, the festive fervour and our consistent rigour will certainly mark a celebratory third quarter for us."

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/base.jpg?itok=gUjfBz_L
Total value of the UK screen industry rose to £11 bn in 2022

Mumbai: The value of the UK home entertainment category rose to £4.43 billion in 2022. This is inclusive of all SVoD, digital and disc sales, and rental (PEST, EST, PVoD, VoD, DVD, Blu-Ray, 4K UHD, BoxSet. This is up three per cent year-on-year (YoY), demonstrating choice and scale in a dominant UK...

Movies Hollywood
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/31/shibashish_sarkar.jpg?itok=9jamhVSJ
Hindi cinema must ensure its reach in dubbed market by appealing to larger audiences with relevant stories: Shibashish Sarkar

Mumbai: A panel discussion was held on the "Future of Cinema Distribution in India and Worldwide" on day three of the Shanghai Cooperation Organisation Film Festival in Mumbai. The session saw a discussion on various aspects of film distribution, including the impact of OTT platforms and the change...

Movies Hindi
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/28/priyadarshan.jpg?itok=m6Tl8ipk
SCO film festival to commence with the world premiere of Priyadarshan’s ‘Appatha’

The Shanghai Cooperation Organisation festival will commence on Saturday with the world premiere of the Tamil film Appatha. The film is directed by Padma awardee filmmaker Priyadarshan while Jio Studios and Wide Angle Creations are co-producers.

Movies Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/24/neerja_sekhar.jpg?itok=CmkeIjg0
SCO Film Fest to be held in Mumbai from 27-31 Jan

Mumbai: The ministry of information and broadcasting is organising the Shanghai Cooperation Organisation Film Festival in Mumbai through the National Film Development Corp. (NFDC). The SCO Film Festival is being organised to mark India’s presidency.

Movies Hindi
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/23/republic_day_0.jpg?itok=xBIX6sRl
Zee Theatre stars share their nostalgic memories of Republic Day

Mumbai: Flag hoisting on a misty, winter morning on the school grounds or huddling close to a television set to watch the Republic Day parade with loved ones are some of the most cherished memories we all recall from childhood.  Aahana Kumra who stars in Zee Theater's  Sir Sir Sarla is no exception...

Movies Hindi
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/23/mbc.jpg?itok=bN0_c8Xt
MBC renews deal with Warner Bros. Discovery

Mumbai: The Middle East Broadcasting Corporation (MBC) Group has extended its partnership with Warner Bros. Discovery (WBD). MBC Group will continue to deliver Warner Bros. theatrical titles till 2026. In addition, it will add new Cartoon Network content to its lineup. Movies will air on MBC2....

Movies Hollywood
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/20/pvr.jpg?itok=RxTMjsBQ
PVR posts consolidated revenue of Rs 9,608 mn for Q3FY23

Mumbai: PVR Ltd. reported unaudited consolidated financial results for the third quarter and nine months ended 31 December 2022. The consolidated revenue, earnings before interest, taxes, depreciation, and amortisation (Ebitda) and profit after tax were recorded at Rs 9,608 million, Rs 3,088...

Movies Hindi
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/14/sanjay_chouhan.jpg?itok=hHt6HwCm
Paan Singh Tomar writer Sanjay Chouhan passes away at 62 

Mumbai: With deep sorrow The Screenwriters Association (SWA) has informed us of the demise of their beloved screenwriter and fellow member, Sanjay Chouhan on 12 January.  He was extremely talented and devoted to his craft, and his contribution to the field of screenwriting and Indian cinema is...

Movies Hindi
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/01/12/uae-cinema.jpg?itok=6ezSSiif
UAE is the Next Go-To Destination For Bollywood Lovers in 2023

Both Bollywood and the UAE are synonymous with glitz and glamour. There is no better place than the UAE that embodies the dazzling, flamboyant film industry, with desi undertones and unique attractions. With a strong Indian community around and a never ending appetite for flair, it’s little...

Movies Hindi