PVR Inox posts highest quarterly ad revenue since pandemic, hits Rs 148.6 cr in Q3

New Delhi: PVR Inox has recorded its highest quarterly advertising revenue since the pandemic, earning Rs 148.6 crore in Q3 FY2025. This marks a 36% increase from Rs 109.3 crore in Q2 and Rs 93.4 crore in Q1.

On a year-on-year (YoY) basis, ad revenue grew 5.8%, up from Rs 140.5 crore in Q3 FY2024. 

For the nine-month period ended December 31, 2024, the company generated Rs 351.3 crore from advertising.

The multiplex firm reported a nearly three-fold jump in consolidated net profit at Rs 35.9 crore for the third quarter ended December, supported by record-breaking average ticket prices and food and beverage spend.

The company, earlier known as PVR, had posted a net profit of Rs 12.8 crore in the October-December period a year ago, according to a regulatory filing.

Its revenue from operations stood at Rs 1,717.3 crore, up 11% in the December quarter of the current fiscal. In the year-ago period, the same was at Rs 1,545.9 crore.

"Blockbuster movies propelled Q3 to the highest box office earnings of the year," said PVR Inox in its earnings statement.

The movie Pushpa 2 has created a "history as the biggest blockbuster ever in Indian cinema", which contributed 36% of its third quarter India box office collections and 12% of its 2024 India Box office collections, it added.

During the quarter, the company recorded 3.73 crore admissions with an ATP (Average ticket price) of Rs 281, which according to PVR Inox is the "highest quarterly average".

The October-December quarter started with strong performances from Tamil and Telugu films - Junior NTR's Devara Part-1 and Rajnikanth's Vettaiyan in October.

In November, Hindi cinema rebounded with two hits - Singham Again and Bhool Bhulaiyaa 3, each earning approximately Rs 300 crore. Regional films continued their strong performance, with Amaran surpassing Rs 250 crores and becoming the second highest-grossing Tamil film of the year.

"December emerged as the biggest month of the year, driven by the record-breaking release of Pushpa 2. The film grossed over Rs 1,450 crore in India, with its Hindi dubbed version achieving over Rs 900 crore, a new record for the highest-grossing Hindi film ever," it said.

PVR INOX's total expenses in the December quarter were at Rs 1,712.8 crore, up 7.9%.

In the December quarter, PVR INOX's revenue from the movie exhibition business was up 5% to Rs 1,638.8 crore in the December quarter.

However, its revenue from movie production and distribution was up over three-fold to Rs 146.4 crore. It was at Rs 41.2 crore in the corresponding December quarter of the last fiscal year.

Its total income, which includes other income, was up 9.6% to Rs 1,759.1 crore in the December quarter.

During the quarter, 11 new screens opened, taking PVR INOX total screen count to 1,728 screens in 350 cinemas across 111 cities in India and Sri Lanka.

The company also reported record-breaking average ticket prices (Rs 281) and spending per head (Rs 140), underscoring strong consumer demand.

Moreover, PVR Inox, which after the merger is closing non-performing screens as part of a strategy to focus on profitable growth, has to date in the current fiscal, added 77 new screens and exited 67 underperforming screens.

"For the whole year, the company expects to open about 100–110 new screens," it said.

Going ahead, Managing Director Ajay Kumar Bijli said the focus remains on pivoting to the capital-light model, enhancing free cash generation, reducing net debt, controlling costs and delivering a diverse slate of films.

"With a robust content pipeline, a slew of strategic growth initiatives, and continued financial discipline, we are confident in sustaining our leadership and driving long-term value for all stakeholders," he said.