Inox Leisure reported an ad revenue of Rs 35 crore in the third quarter of FY2023, which is still 40% less than the Rs 58 crore ad revenue it earned in the corresponding quarter in FY2020, in the pre-Covid phase.
However, the total revenue of the company has risen to Rs 522 crore in Q3 FY23, as compared to Rs 518 crore in Q3FY20.
The company saw a rise in revenue from net food and beverage sales, and net box office collections in the last quarter riding on the back of successful movies such as Kantara, Avatar: The Way of Water, PS-1, Drishyam 2, and more.
Further, the company saw a rise in Total Expenses which rose to Rs 435 crore, leading to EBITDA of Rs 87 crore.
The company has reported Profit After Tax of Rs 29 crore, which after including current and deferred tax, and taxes pertaining to earlier years, came down to a loss of Rs 22 crore.
Inox Leisure stated that in Q3 FY23 it added 15 new screens at four locations in the country, taking its number of screens to 722 across 170 properties.
The company, which is in the process of merging with PVR, also stated that it is expecting the process to be completed by March 2023.
It also stated that it is Net-Debt free, as per the filing in BSE.
Siddharth Jain, Director – INOX Leisure, said, “The inevitable cheerfulness and buoyancy is back on the cinema floor, and is clearly reflecting on our quarterly performance. This quarter not only reiterates the fact that normalcy is back, but also reconnects us with our usual journey of growth and profitability. Our constant pursuit of innovativeness and our desire to offer the best cinema-viewing experience have played significant roles in a quarter which may be termed as a remarkable one. Content, like always, remains the most critical aspect, and would continue to play a pivotal role in the coming quarters as well. With the new merged entity with PVR soon to take shape, we look forward to the new journey, which would have top-notch guest-experience forming the core of all its decisions.”