PVR records consolidated revenue of Rs 1,002 crore in Q1
The company said Q1 FY’23 was its best-ever quarter in terms of revenue, EBITDA and PAT
PVR has reported consolidated revenue, EBITDA, and net profit of Rs 1,002 crore, Rs 362 crore, and Rs 53 crore respectively for the quarter ended 30th June. In the same quarter of the previous fiscal, the revenue, operating loss, and net loss stood at Rs 93 crore, Rs 58 crore, and Rs 220 crore respectively.
The company said the Q1 FY’23 was the best ever quarter in its history in terms of revenue, EBITDA and PAT.
The company recorded the highest-ever average F&B spend per head (SPH) of Rs 134 during the quarter reflecting a growth of 32% over pre-pandemic levels. The company has recorded the highest monthly average F&B revenue of Rs 100+ crore during the quarter.
PVR noted that the growth in advertising revenue continues to lag. The company has reported an advertising income of Rs 63 crore which is 32% lower than the pre-pandemic figures. It reflects a 68% recovery in advertising income vis-à-vis pre-pandemic levels.
On the back of significant growth in ATP and SPH and significant recovery in admissions, the EBITDA margins for the quarter were 20.8%.
The company has revived its Capex plans in a significant manner and is on track to open a total of 125 new screens during FY’23. It had opened 14 screens across 3 properties to date. About one-third of the new screen additions in this fiscal year will be in tier 2 and 3 cities. The company plans to enter 9 new cities during the year.
Commenting on the results and performance, PVR CMD Ajay Bijli said, “This quarter’s results are a reaction of the strength of the domestic film industry we have in India and the consumer’s unsatiated appetite to watch on the big screen. Indian film exhibition industry has been one of the fastest to recover as compared to other international markets. The content line-up for the year ahead looks very promising and we hope this will be a very strong box office year for the Indian exhibitors. As we celebrate the silver jubilee for PVR this year, we are extremely that we will continue to set and exceed even greater benchmarks in the years to come.”
