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PVR’s Q1 show driven by more expensive tickets and blockbusters

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  • PVR reported its best quarter ever as revenue, net profit and EBITDA were at all-time highs.
  • PVR’s average ticket price also hit a record high of 250 in the past three months, thanks to a strong pipeline of movies.
  • Movies like Brahmastra, Laal Singh Chaddha could also have an impact on PVR’s earnings in the coming quarters.

The Indian multiplex major PVR posted its best quarter yet, all thanks to major blockbuster releases such as KGF: Chapter 2, RRR, Bhool Bhulaiya 2 and Doctor Strange. The company reported its highest quarterly revenue and net profit in the April to June quarter.

Sales exceeded ₹1,000 crore for the first time in the first quarter of fiscal 2023, representing a nearly 10-fold increase over sales reported in the same quarter last year. The net profit was ₹53 crore. It reported a loss of ₹220 crore in the April-June 2021 quarter.

The company’s EBTIDA – earnings before interest, taxes, depreciation and amortization – was also at an all-time high as 2.5 crore people visited the cinemas in the past three months.

Particularities April-June 2022 April-June 2021
The total turnover 1,002 crore 93 crore
EBITDA ₹362 crore -₹58 crores
Net profit ₹53 crores -₹220 crores

Source: PVR

The company noted that the net box office revenue (NBOC) of KGF 2 alone was 121 crore, while the RRR was 94 crore.

Movie Net box office revenue in India Earn net box office through PVR
KGF2 ₹859 crore ₹121 crore
RRR ₹772 crore 93.7 crores
Bhool Bhulaiya 2 ₹184 crore ₹47 crore
Dr Strange ₹122 crore ₹45.8 crore
Vikram ₹241 crore ₹26.6 crores


PVR’s movie tickets only got expensive thanks to a good movie pipeline

The company also recorded its all-time highest average ticket price (ATP) of 250 for the quarter based on global and local releases.

“The quarter was marked by the release of some of the biggest domestic hits like KGF: Chapter 2, RRR, Vikram, Bhool Bhulaiya 2 and Hollywood tentpoles like Doctor Strange and Top Gun: Maverick, which performed extremely well at the box office,” PVR said in a statement.

Five brokerage firms – ICICI Securities/Direct, Motilal Oswal, Prabhudas Lilladher and ShareKhan – believe that a strong film pipeline could change the fate of cinema chains such as PVR and INOX as they attract large numbers of visitors.

The release of films like Kashmir Files, Rajamouli’s RRR, Sanjay Leela Bhansali’s historical drama Gangubai Kathiawadi had also brought a lot of charm to Indian theaters in March, making them the best month after years of slump. A strong pipeline ahead has made PVR and INOX more hopeful about their future.

Brahmastra, Laal Singh Chaddha — movies that could impact PVR’s revenue in the coming quarters

“The content pipeline for 2022 in the coming months looks extremely robust,” PVR said in its statement. The company has listed the following major budget lineup that could impact visitor numbers:

Movie Release
shamshera July 22, 2022
Paws of Fury: The Legend of Hank July 22, 2022
Thank you July 28, 2022
Vikrant Rona July 28, 2022
Ek Villain returns July 29, 2022
bullet train August 5, 2022
Laal Singh Chaddha August 11, 2022
Raksha Bandhan August 11, 2022
Intermediary August 12, 2022
Thiruchitrambalam August 18, 2022
no August 19, 2022
liger August 25, 2022
Beast September 2, 2022
Yaar Mera Titliyaan Warga September 2, 2022
Brahmastra part one: Shiva September 9, 2022
the queen of women September 16, 2022
Dhokha Round D Corner September 23, 2022
Vikram Vedha September 30, 2022
Ponniyin Selvan September 30, 2022
Godfather October 5, 2022
The ghost October 5, 2022
Mr and Mrs Mahic October 7, 2022

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