INOX Leisure Drops As Net Loss Increases To Rs 40Cr In Q3 FY23
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INOX Leisure Drops As Net Loss Increases To Rs 40Cr In Q3 FY23

INOX Leisure fell 1.21 per cent to Rs 495.55 after reporting a consolidated net loss of Rs 40.41 crore in Q3 FY23, compared to a loss of Rs 1.32 crore in Q3 FY22.

The multiplex chain operator increased its income from operations by 73.9 per cent to Rs 515.57 crore in Q3 FY23, compared to Rs 296.47 crore in the same time previous year.

In Q3 FY23, the firm recorded a pre-tax profit of Rs 4.24 crore, compared to a pre-tax loss of Rs 1.60 crore in Q3 FY22.

In the quarter ending 31 December 2022, total expenditure climbed by 62.8 per cent year on year to Rs 493.20 crore.

During the period under review, the company’s EBITDA was Rs 87 crore, with an EBITDA Margin of 17 per cent.

INOX reported a 23 per cent occupancy rate in the third quarter, with 15.3 million visitors attending INOX theatres around the country.

In the quarter gone by the firm recorded its highest-ever quarterly average ticket price (ATP) of Rs 230 and expenditures per head (SPH) of Rs 106.

In the fiscal quarter ending 31 March 2023, the business intends to add seven locations and 32 screens.

INOX said that as of 28 January 2023, the company has a solid liquidity of close to Rs 355 crore (including undrawn limits of Rs 125 crore).

Commenting on the results, Siddharth Jain, Director of INOX Leisure said, “This quarter not only reiterates the fact that normalcy is back, but also reconnects us with our usual journey of growth and profitability.”

Content, as always, is the most important factor and will continue to play an important role in the future quarters. With the new amalgamated entity with PVR ready to take shape, the firm is looking forward to the new adventure, which will place top-tier guest experience at the centre of all its choices, he said.

With 170 multiplexes and 722 screens spread over 74 locations, INOX Leisure is one of India’s largest multiplex chains.

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