Inox reports increase in revenue, profits for second quarter

BENGALURU: Indian cinema chain Inox Leisure Limited (Inox) has reported improved revenue and net profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding quarter of the previous year (Q2-17, year ago quarter). Inox revenue from operations for Q2-18 increased 4.7 percent to Rs 3,112.6 million from Rs 2,973.8 million for Q2-17 (y-o-y). Profit after tax for the current period increased more than sevenfold (7.49 times) y-o-y to Rs 116.8 millon from Rs 15.6 million.

Total income increased 4.9 percent y-o-y in Q2-18 to Rs 3,141.5 million from Rs 2,995.1 million. Operating profit (EBIDTA) for the current quarter increased 63.4 percent y-o-y to Rs 444.2 million from Rs 271.9 million.

Inox says in its investor presentation that net box office collection (NBOC) increased in the current quarter to Rs 1,856 million from Rs 1,794 million. Advertisement revenue increased to Rs 321 million from Rs 23.8 million. Other operating revenues increased to Rs 264 million from Rs 240 million. Net food and beverages (F&B) revenue in the current quarter reduced to Rs 671 million from Rs 702 million in Q2-17.

Though overall footfalls in Q2-18 increased to 12.75 million from 12.7 million in Q2-17, occupancy declined by 1 percent to 25 percent in Q2-18 from 26 percent in Q2-17. Overall average ticket price increased to Rs 186 in the current quarter from Rs 183 in the corresponding year ago quarter.

The company says that the top five grossing movies in Q2-18 were Toilet-Ek Prem Katha (1.244 million footfalls, Gross Box Office Collection or GBOC of Rs 247.5 million; Spiderman Homecoming (0.623 million footfalls, GBOC Rs 131.1 million; Jab Harry Met Sejal (0.539 million footfall, GBOC Rs 119.6 million); Jagga Jasoos (0.605 million footfalls, GBOC Rs 113.9 million) and Mubarakan (0.561 million footfalls, GBOC Rs 103.3 million).

Let us look at the other numbers reported by the company

Total expenditure declined 13.1 percent y-o-y to Rs 2,963.1 million in Q2-18 from Rs 2,968 million. Exhibition costs increased 2.1 percent y-o-y in the current quarter to Rs 884.6 million from Rs 866.3 million. F&B costs declined 8.5 percent y-o-y to Rs 167.6 million y-o-y from Rs 183.1 million. Employee benefits expense increased 6.8 percent y-o-y to Rs 233 million from Rs 218.1 million. Finance costs in the current quarter increased 25.3 percent y-o-y to Rs 73.2 million from Rs 58.4 million. Other expenses reduced 3.6 percent y-o-y to Rs 1,383.2 million in Q2-18 from Rs 1,434.4 million.

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