PVR INOX posts Rs 125.3 crore loss in Q4, advertising income down 7.9%

New Delhi: The cinema exhibitor PVR INOX reported a narrowing of its consolidated net loss to Rs 125.3 crore in the March quarter of FY25, while its revenue from operations fell marginally to Rs 1,249.8 crore.

The company reported a net loss of Rs 129.7 crore in the March quarter of FY24, and its revenue from operations was at Rs 1,256.4 crore, according to a regulatory filing by the company.

However, PVR INOX reported widening of its net loss to Rs 280.9 crore in the financial year ended March 2025. It was at Rs 32.7 crore a year before in FY24.

Its total consolidated income for FY25 was 5% lower at Rs 5,953.6 crore as against Rs 6,263.7 crore a year ago.

The cinema exhibitor’s advertising income in Q4 FY2025 was down by 7.9% at Rs 96.2 crore vs. Rs 104.5 crore in the corresponding period of the previous year. 

The company’s total advertising income was Rs 447.5 crore in FY2025. 

In FY25, PVR INOX continued to rationalise its screen portfolio, where it closed 72 screens and opened 77 new screens in line with its profitability and operational efficiency.

Its current portfolio stands at 1,743 screens across 352 cinemas in 111 cities in India and Sri Lanka.

According to PVR INOX, the box office in FY25 was impacted by an "uneven release calendar" marked by inconsistent content availability across quarters.

"Both Bollywood and Hollywood underperformed, contributing to a 9% decline in the company's overall gross box office revenue. Hindi box office collections dropped 26%, primarily due to a 14% reduction in film releases, the absence of major superstar-led titles, and multiple postponements," the company said in its earnings statements.

PVR INOX revenues from Hollywood films fell by 28%, reflecting the lingering effects of the previous year's strike and a lackluster tent-pole slate.

"In contrast, Hindi-dubbed films saw a remarkable 153% surge, driven by nationwide hits like 'Pushpa 2' and 'Kalki,' underscoring a growing audience appetite for large-scale pan-India narratives," it said.

In the March quarter, 'Chhava' emerged as the highest-grossing film, earning approximately Rs 700 crore at the box office, followed by strong performances from 'Sankranthiki Vasthunam' (Telugu), 'SkyForce', 'Empuraan' (Malayalam), 'Daaku Maharaj' (Telugu), 'Game Changer' (Telugu), 'Dragon' (Tamil), and 'Vidaamuyarchi' (Tamil).

"March, in particular, was a subdued month, with 'Empuraan' and 'Sikandar' releasing towards the end of the month. While 'Empuraan' with life time box office of Rs 125 crore cemented its place among the highest-grossing Malayalam films of all time, 'Sikandar' with life time collections of Rs 130 crore underperformed relative to expectations, especially considering its high-profile cast and production scale," it said.

In the March quarter, PVR INOX's total expenses were at Rs 1,478.7 crore, down marginally.

Revenue from the movie exhibition business in the March quarter was at Rs 1,235.2 crore, marginally up.

Its revenue from movie production and distribution was at Rs 82.1 crore, up 3.4%.

PVR INOX, which is now in transition towards a Capital-Light Growth model, where it is betting on the franchise-owned company-operated model, has recently opened two management-operated cinemas in Raipur (5 screens) and Jabalpur (4 screens).

"In addition, 23 cinemas with a combined 101 screens are signed under the Capital Light model and are expected to come up over the next 12–24 months. This strategic pivot is expected to materially reduce our new screen capex and drive long-term sustainable growth," it said.

Over the outlook, the company said FY26 promises to be a "high-octane period" for the exhibition industry, supported by a formidable lineup of content across Hollywood, Bollywood, and regional cinema.

"A slew of eagerly awaited Hollywood tentpoles are set to hit the big screen, including 'Mission Impossible – The Final Reckoning', 'Formula 1', 'Jurassic World Rebirth', 'Fantastic Four: The First Steps', 'Superman', 'Predator: Badlands', 'Tron: Ares', 'Ballerina', 'Now You See Me 3', 'The Conjuring: Last Rites', 'Karate Kid: Legends', 'Mortal Kombat 2', and 'Avatar: Fire and Ash', among others. These global franchises are expected to generate significant traction among urban audiences, reaffirming cinemas as the preferred destination for immersive movie experiences," it said.