INOX revenue up by 12% in FY2020 despite Covid2019 impact

Q4 saw impacted growth due to the pandemic.

MUMBAI: INOX Leisure Ltd reported financials for the fourth quarter and the financial year ending 31 March 2020. While Covid2019 eroded the last quarter, the company claims to have made a substantial increase in its yearly performance.

EBITDA for Q4 2020 stands at Rs 40 crore, quarterly loss after tax was at Rs 2 crore. Total revenue for Q4 is Rs 376 crore.

On the other hand, for FY2020, it saw revenue up by 12 per cent to Rs 1915 crore, EBIDTA growth by seven per cent to touch Rs 347 crore, PAT growth at six per cent to hit Rs 141 crore. Additionally, the company release says that it saw a footfall of 66 million this year. The spend per head showed eight per cent growth annually and stood at Rs 80.

The Covid2019 pandemic impacted its ad revenue. The recessionary slowdown and Covid-induced fear psychosis towards the end of the FY led to a flat trajectory with just one per cent growth, said the company.

INOX Group director Siddharth Jain said, “Despite the advent of Covid2019, we managed to continue our uninterrupted streak of revenue growth. The advent of Covid2019 has left a serious mark on our fourth quarter performance and will remain a cause of concern in the subsequent months as well. With a clear priority on safety and well-being of our guests as well as our employees, we are preparing ourselves with the wherewithal which would help us see through this phase. Our SOPs have been tailored to offer a safe, reliable and a seamless movie watching experience once we resume operations. We are confident that the signature INOX experience, which has become synonymous to movie watching in our country, will remain intact, and will continue to delight our patrons on the other side of Covid2019. We are banking on our inherent passion and our robust balance sheet, which would help us emerge stronger and faster from this pandemic situation and deliver a remarkable turnaround, delighting all our stakeholders.” 

*Excludes impact of Ind AS 116

Latest Reads
50% cap on seating to continue for cinema halls till November 30

KOLKATA: As the number of Covid2019 cases is inching towards the 80 lakh mark, preventive measures continue to remain in force. While the ministry of home affairs (MHA) allowed the reopening of cinema halls with limited capacity from 15 October, the 50 per cent cap will be applicable till 30...

Movies Hindi
PVR Pictures to release Mel Gibson’s Force of Nature

Mumbai: Theatres are opening their doors again and PVR Pictures has geared up to ensure moviegoers have an exciting and safe viewing experience. The multiplex chain is all set to release Hollywood star Mel Gibson's action-thriller Force of Nature on 23 October. Force of Nature is PVR’s second...

Movies Hindi
Industry remains cautiously optimistic with reopening of cinema halls

For people across the film exhibition industry, the Unlock 5.0 guidelines have brought them a reason to smile. On Wednesday evening, the ministry of Home Affairs (MHA) allowed opening of cinema halls from 15 October with 50 per cent seating capacity.

Movies Hindi
Yoodlee Films Moves into Next Gear: finishes four films during COVID- 19

Four films in various stages of completion in the last four months of the pandemic. Sounds like a tall order, but this is exactly what one new-age production house has gone ahead and done. 

Movies Hindi
Cinema halls to be back in business from 15 October

KOLKATA: After coping with the initial shock of Covid2019, the economy has started reviving slowly. With the new guidelines issued by the ministry of home affairs, the revival will speed up, especially in the cinema exhibition sector. The ministry has finally allowed the opening up of cinemas,...

Movies Hindi
Shekhar Kapur to head Pune-based FTII

MUMBAI: The Pune-based Film & Television Institute of India (FTII) has appointed veteran filmmaker Shekhar Kapur as the president &  chairman of the governing council, a position he will hold till  March 2023.Information & broadcasting minister Prakash Javadekar made the announcement on...

Movies Hindi
Chandramukhi: Amitabh Bachchan Starrer AB Aani CD Filmmakers To Go On Floor With The First Big Banner Marathi Film Since Outbreak Of COVID-19

Excerpt: The only big banner Marathi film to go on floors after the pandemic is Akshay Bardapurkar and Piiyush Singh’s Chandramukhi.

Movies Hindi
Saregama IP boosts profits despite revenue fall in first quarter

BENGALURU: India music label and movie studio Saregama India Ltd (Saregama) reported 100 times growth in consolidated profit after tax (PAT) at Rs 22.01 crore for the quarter ended 30 June 2020 (Q1 2021, quarter or period under review) as compared to the Rs 0.22 crore for the corresponding year ago...

Movies Hindi
Impact of Covid2019 on the advertising and film industry

The entire film fraternity was shaken with effect to the complete lockdown declared by the Indian prime minister in mid-March 2020. Industry people who were otherwise engaged 24X7 now focussed on the 21-day countdown. Twenty one days turned into three months keeping the lockdown intact. Discussion...

Movies Hindi

Sign up for our Newsletter

subscribe for latest stories

* indicates required