The
success
of
Stree
2,
which
emerged
as
the
highest-grossing
Hindi
film,
was
significant
to
PVR
Inox’s
performance
in
the
July-September
quarter.
Kareena
Kapoor
and
Ajay
Devgn
in
Singham
Again.
PVR
Inox,
India’s
largest
film
exhibitor,
is
banking
on
the
anticipated
success
of
its
lineup
of
multi-starrer
movies,
including
Singham
Again,
Bhool
Bhulaiyaa
3,
and
Pushpa
2:
The
Rule
(the
Allu
Arjun
starrer
will
be
released
in
five
languages),
to
restore
profitability.
“Going
forward,
I
think
with
the
recovery
in
admissions
and
a
very
strong
lineup
of
films
in
the
festival
season
and
fourth
quarter,
we
expect
footfall
and
occupancy
to
improve
substantially,
which
will
have
a
positive
impact
on
profitability,”
said
Gaurav
Sharma,
chief
financial
officer
of
PVR
Inox,
in
an
interview
with
Business
Standard.
Madhuri
Dixit
and
Vidya
Balan
in
Bhool
Bhulaiyaa
3.
The
multiplex
chain
reported
a
consolidated
net
loss
of
Rs
11.8
crore
(Rs
118
million)
for
the
quarter
ended
September,
compared
with
a
net
profit
of
Rs
166.3
crore
(Rs
1.66
billion)
in
the
same
quarter
last
year.
The
company’s
net
loss
stood
at
Rs
179
crore
(Rs
1.79
billion)
in
the
April-June
quarter.
The
company’s
consolidated
revenue
from
operations
dropped
by
around
19
per
cent
to
Rs
1,622.1
crore
(Rs
16.221
billion),
down
from
Rs
1,999.9
crore
(Rs
1.999
billion)
in
the
same
quarter
last
year.
“Last
week,
we
had
Vicky
Vidya
Ka
Woh
Wala
Video
and
Jigra
performing
well
at
the
cinemas,”
said
Sanjeev
Kumar,
executive
director
of
PVR
Inox,
during
the
earnings
call.
The
company
expects
a
higher
number
of
Hollywood
movies
to
be
released
in
the
ongoing
quarter
and
in
2025
compared
to
2023,
as
last
year’s
Hollywood
releases
were
disrupted
due
to
the
Writers
Guild
of
America
strike.
The
company
also
expects
the
return
of
blockbuster
movies
next
year,
according
to
executives
in
the
earnings
call
with
analysts.
Allu
Arjun
and
Rashmika
Mandanna
in
Pushpa
2:
The
Rule.
Earlier,
the
company
announced
that
movie
re-releases
would
become
a
major
part
of
its
business
model,
which
contributed
roughly
6
per
cent
of
the
company’s
second-quarter
admissions.
The
company
reduced
its
net
debt
by
Rs
140.9
crore
(Rs
1.41
billion)
in
the
last
quarter,
bringing
its
net
debt
to
Rs
1,153.1
crore
(Rs
11.53
billion)
at
the
end
of
September.
The
success
of
Stree
2,
which
emerged
as
the
highest-grossing
Hindi
film,
was
significant
to
PVR
Inox’s
performance
in
the
July-September
quarter.
The
company
plans
to
add
110
to
120
screens
in
2024-2025
(FY25),
having
already
added
71
screens
to
date.
It
also
plans
to
shut
down
30
to
35
low-performing
screens
in
H2FY25.
Currently,
the
company’s
overall
screen
portfolio
includes
1,747
screens
in
356
cinemas
across
111
cities
in
India
and
Sri
Lanka.
