PVR Inox, a popular movie theater chain, announced great news on Thursday! In the last three months ending December 2024, the company made a net profit of ₹35.9 crore, which is a huge jump of 180% from the ₹12.8 crore profit they had during the same time last year. Just a few months ago, the company faced a bigger challenge, reporting a loss of ₹11.8 crore in the previous quarter.
After sharing this exciting news, PVR Inox’s stock prices recovered a bit, falling only 1.5% to ₹1,115.55 on the Bombay Stock Exchange.
The theater chain earned ₹1,717.3 crore from ticket sales in the third quarter, which is 11.1% more compared to last year when they earned ₹1,545.9 crore. This also shows a good improvement of 5.9% from the ₹1,622.1 crore earned in the previous quarter.
PVR Inox shared that this quarter was filled with amazing movies, leading to the highest ticket earnings of the year. This also pushed ticket prices and spending to record highs, with an average ticket price of ₹281 and an average spend of ₹140 per person.
In the last three months, 37.3 million people visited PVR cinemas, showing that people still love going to the movies. The company also made ₹148.6 crore from advertisements during this quarter, which is its highest since the pandemic started.
One of the big hits this quarter was “Pushpa 2,” which became the biggest blockbuster ever in Indian cinema. It made up 36% of the movie earnings in India for this quarter and 12% of the total earnings for the whole year!
PVR Inox is growing too! They opened 11 new screens in two locations last December. Now, the company has 350 cinemas with 1,728 screens across 111 cities, making it a major player in the movie theater industry.
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