PVR Inox's Q1 Loss Rises to Rs. 136.6 cr as the IPL and General Elections Impact the Business

PVR Inox, a multiplex chain, experienced a widening of its loss in the first quarter of FY25, from Rs. 44.1 crore to ₹136.6 crore. Due to major releases by filmmakers being postponed due to the Lok Sabha elections and the Indian Premier League, cinema admissions declined by 10.4% to 30.4 million.

The quarter was boring overall, despite a few notable achievements like Srikanth, Mr. & Mrs. Mahi, and Munjya. While sales of food and beverages decreased by 6.1%, movie ticket revenue plummeted by 14.5% from the first quarter of FY24.

At 44 days, the general elections that took place in April and May were the second longest in Indian history. Due to the fact that many producers decided to delay their movie releases, 13% fewer films were released in the quarter than during the same time last year.

"The number of blockbusters also declined sharply this quarter, with only three films crossing the ₹100-crore mark compared to seven last year," PVR Inox said in a statement. The Hollywood releases were affected by the writer and actor strikes of the previous year, but we anticipate a major recovery in the Hollywood lineup in the second part of FY25.

For a net addition of 36 screens during the quarter, the business closed 14 underperforming displays and added 50 new ones. There are now 1,754 screens in 361 theaters spread over 113 locations in Sri Lanka and India.