It seems that movie buffs in India are preferring the small screen over the big screen to watch the newest movies of their favourite actor. As PVR INOX have reported a net loss of Rs 81.6 crore in Q1 of 2023.
It is important to mention here that PVR and INOX merged into one company on January 1, 2023. The company in its filing has mentioned that Q4, 2023 and Q1, 2024 are not comparable as they have been reported on a merger basis.
The multiplex chain made a profit of Rs 53.4 crore in the same quarter of last year. PVR INOX revenue from operations was up by 32.96 percent at Rs 1,304.9 crore from Rs 981 crore made in the same quarter last year.
Total money spent per head at PVR INOX also increased by 3 percent and 9 percent. Spending on tickets and other delights increased by 15 percent and 22 percent quarter on quarter. However, there was not much change in the Ad income levels in Q4, 2023 AND Q1, 2024.
PVR INOX also mentioned in the filing that post-pandemic it saw the admission of the highest number of Hollywood movies. In Q1, 2024, the total number of admissions stood at 3.39 crore, as compared to 3.05 crore admissions in Q4,2023. This list also includes Oppenheimer and Barbie.
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