UFO Moviez reports consolidated revenue of Rs 90.7 crore in FY21

For Q4, the consolidated revenue stood at Rs 32.7 crore compared to Rs 109.4 crore in Q4 FY20. EBITDA loss for the quarter under review was Rs 15.9 crore compared to Rs 27.5 crore. The company posted a net loss of Rs 25.5 crore compared to a net profit of Rs 6.8 crore.

The company said that the theatrical and advertisement Revenues were severely impacted on account of a temporary shutdown of cinemas due to COVID-19 Pandemic. However, continued focus on optimising costs and conserving cash has helped the company sustain in this period. The resurgence of COVID-19 cases towards the end of March 2021, led to various state governments taking restrictive measures to prevent the spread of the virus and have once again ordered a temporary closure of cinemas.

“FY21 was a challenging year for the economy as well as for UFO Moviez. COVID-19 led shutdowns, beginning March 2020, impacted the Cinema exhibition business in an unprecedented way. Cinemas were allowed to re-open gradually in a staggered manner with 50% seating capacity from mid-October 2020. Southern Markets witnessed signs of recovery on account of further easing of restrictions from Q4FY21 supported by the release of blockbusters like Master and Vakeel Saab. Non-South markets were also gearing up to witness a similar recovery as restrictions were being lifted from February 2021 and content owners were lining up their release dates. However, the second wave of COVID-19 in March 2021 once again led to lockdown-like restrictions throughout India,” said UFO Moviez Joint MD Kapil Agarwal.

“Though we are under immense pressure, we feel that our cash position and the cost optimization measures will help us tide over this challenging phase. We are confident that Cinemas will remain the preferred media of social entertainment. During the year, we also ventured into fee-based Film Distribution Business as a natural backward integration by leveraging our existing infrastructure. It seems that the second wave has already peaked and with the vaccination drive expected to gain momentum, we hope the situation will improve quickly and normalcy is restored in the Cinema business.”

UFO Moviez is India’s largest in-cinema advertising platform with the power to impact almost 2.0 billion viewers annually through 3,558 screens under the PRIME and POPULAR channels across 1,201 cities & towns.