Record quarter, first ₹4,000-crore box office
PVR INOX posted its highest-ever quarterly revenue, EBITDA and profit after tax for the July-September quarter, while India’s theatrical market crossed a new threshold. The chain reported ₹2,133 crore in revenue, up 17% from ₹1,819 crore a year earlier. Adjusted EBITDA rose 44% to ₹475.2 crore, with the margin widening to 22.3% from 18.1%. Profit after tax from continuing operations reached ₹273.3 crore, up 111% from ₹129.6 crore.
The wider market was equally strong. India’s gross box office collections reached ₹4,443 crore in Q2 FY27, up 23% year on year, according to Ormax Media and company estimates cited by PVR INOX. It is the first time the Indian box office has crossed ₹4,000 crore in a single quarter. First-half collections stood at ₹7,618 crore, up 22%.
Footfall grew slowly; spend per head did the work
PVR INOX welcomed 46.3 million patrons, only 4% more than the same quarter last year. Yet revenue rose 17% because the chain earned more from each visit. Average ticket price increased 14% to ₹298, and average food and beverage spend per person rose 14% to ₹153. Occupancy improved to 30.4% from 28.7%, and both ticketing and F&B revenues grew 18%.
English-language films were the fastest-growing segment, collecting ₹1,024 crore, up 87%. Spider-Man: Brand New Day grossed ₹608 crore to become the highest-grossing English film in India, and Christopher Nolan’s The Odyssey added ₹233 crore. Hindi films, including dubbed releases, grew 12%, led by Hanuman Ansh at ₹351 crore and Mirzapur: The Movie at ₹267 crore. Regional cinema also grew 12%.
Cash discipline meets a capital-light expansion plan
PVR INOX generated ₹603.5 crore in free cash flow in the first half, repaid ₹258.6 crore of debt and completed its first share buyback of ₹300 crore in September. Net cash stood at ₹140.7 crore at quarter-end, up from ₹80.7 crore at the end of June. The board has approved a policy that targets a net debt to LTM EBITDA ratio of no more than 0.5 times after distributions, with about 30% of annual surplus cash flow to be returned through dividends or buybacks.
The chain ended the quarter with 1,797 screens across 114 cities in India and Sri Lanka, having opened 24 screens and exited 25 in the first half. It plans to add 90 to 100 screens in FY27, mostly in the second half through capital-light models. The company also opened its first SMART Cinema in Muzaffarpur, Bihar, aimed at smaller Tier III and Tier IV towns, with two to three more planned this financial year.
What it means for media and marketing teams
For entertainment marketers and media planners, the quarter separates footfall growth from value growth. A 4% rise in admissions translated into a 17% revenue gain because pricing, premium formats and F&B attachment carried the load. That makes revenue per visitor a more useful planning metric than admissions alone. The 87% jump in English-language collections also means Hollywood tentpoles should be planned as premium cinema inventory, not an afterthought.
- Patron growth was 4%, but revenue grew 17%: per-head spend did the work.
- English films contributed ₹1,024 crore, up 87%, outgrowing Hindi and regional cinema.
- PVR INOX plans 90-100 new screens, mostly capital-light, targeting under-screened towns.
Managing Director Ajay Bijli called the quarter “a landmark quarter for Indian cinema and PVR INOX” and said margins are “well above pre-COVID levels.” With Ramayana: Part One, King, Avengers: Doomsday and Dune: Part Three in the pipeline, the chain expects the momentum to continue.
Source: bollywoodHungama.com
