PVR share price zoomed as much as 5 percent intraday on Thursday after the multiplex firm posted a record jump in revenue and profit on the back of higher footfalls and average ticket price in the April-June quarter. The impressive numbers, however, came on a low base of the previous year that was marred by the COVID-19-induced lockdowns and disruptions. At closing, shares of PVR were up 2.6 percent at Rs 1,933.25 on the BSE.

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The multiplex cinema company said that it posted the best-ever quarter in PVR’s history in terms of highest quarterly revenue, EBITDA (earnings before interest tax depreciation and amortisation) and net profit during the quarter ended June 2022.

The multiplex company saw a strong bounce-back in theatrical admissions with 2.5 crore patrons visiting PVR cinemas during the quarter.

Further, it posted strong growth of 23 percent in the average ticket price and 32 percent growth in average food and beverages spend per patron as compared to the pre-pandemic period.

PVR added 10 screens across 2 properties during the quarter. It currently operates 173 cinemas with 854 screens across 75 cities.

Content Pipeline for 2022

The content pipeline for 2022 in the months ahead looks extremely robust, PVR said.

Over the next few months, several big-budget Bollywood movies are lined up for release like Shamshera, Laal Singh Chaddha, Brahmastra, Vikram Vedha, Ram Setu, Phone Bhoot, Yodha, Drishyam 2, Cirkus, Kabhi Eid Kabhi Diwali etc.

From Hollywood PVR has Bullet train, Paws of Fury, DC league of Super pets, Black Adam, Black Panther: Wakanda Forever (Marvel), and Avatar: The Way of Water amongst others, and from the regional genre it has Vikrant Rona, Liger, Godfather, Ponniyin Selvan.

Revival of capex plan

The company has revived its capital expenditure plans in a signifi­cant manner and is on track to open a total of 125 new screens during FY23. The company plans to enter nine new cities during the year.

Management outlook

Ajay Bijli, Chairman cum Managing Director, PVR said, “This quarter’s results are a reflection of the strength of the domestic film industry we have in India and the consumer’s unsatiated appetite to watch films on the big screen”.

“Indian film exhibition industry has been one of the fastest to recover as compared to other international markets. The content lineup for the year ahead looks very promising and we hope this will be a very strong box office year for the Indian exhibitors,” he added.

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First Published:Jul 21, 2022 3:57 PM IST