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‘Jungle Book’ lifts Inox’s Q1 revenue by 11.4%
MUMBAI: Multiplex operator Inox Leisure’s fiscal first quarter consolidated net profit fell 1.26% to Rs 24.96 crore (Rs 249.6 million) from Rs 25.28 crore (Rs 252.8 million) a year ago.
The company’s net revenue from operations grew 11.4% to Rs 336.9 crore (Rs 3.34 billion) compared to Rs 302.5 crore (Rs 3.03 billion) in the same quarter of the previous fiscal. Revenue from operations is net of tax.
Revenue growth in the first quarter ended 30 June 2016 was aided by a gross box office collection of Rs 48.33 crore (Rs 483.3 million) from ‘The Jungle Book’. None of the other movies touched the Rs 20 crore (Rs 200 million) mark.
Net box office grew to Rs 213.5 crore (Rs 2.14 billion) compared to Rs 188.6 crore (Rs 1.89 billion) in the earlier year. It accounted for 63.4% of Inox’s total revenues as against 62.3% in the first quarter of FY16.
Though occupancy fell to 31% from the year-ago level of 33%, average ticket price increased 6% to Rs 174.
Advertising revenue grew 3% to Rs 21.3 crore (Rs 213 million) in the quarter ended 30 June 2016. Income from food & beverages also grew 3% to Rs 61 crore (Rs 610 million).
EBITDA dropped 3.7% to Rs 62.1 crore (Rs 621 million) from Rs 64.5 crore (Rs 645 million).
EBITDA margin fell to 18.4% compared to 21.3% a year ago.
Inox operates 108 properties with 425 screens located in 57 cities across India.