Inox Leisure closes second quarter on a strong note
MUMBAI: Cinema exhibitor Inox Leisure has closed the second quarter of FY20 on a historic note with the highest ever footfalls, revenues and EBITDA.
Total Revenue rose to Rs 524 crore with a substantial 42% growth, from Rs 369 crore in the corresponding quarter in FY19.
Inox also hosted the highest number of guests in a quarter with a footfall count of 19 million, up 39%. EBITDA more than doubled to Rs. 107 crore with a 121% growth and PAT stood at an impressive Rs 51 crore, up 327% from the previous year’s second quarter.
The company sold 19 million tickets in the quarter delivering a 39% growth in footfalls. F&B revenues grow by 48% at Rs. 141 crore. Spends Per Head grew by 7%. Advertising revenues stand at Rs. 40 crore with a 5% growth.
The board has declared an Interim Dividend of Rs 1 per equity share (10%).
Content continued to be the decisive force behind the remarkable performance of the Quarter, with numerous movies doing extremely well at the Box Office. Mission Mangal, Super 30, The Lion King, Chhichhore, Saaho and Dream Girl were the top contributors. Batla House, Fast & Furious Presents Hobbs & Shaw and Spider-Man – Far From Home also made significant contributions towards the record ticket sales.
While content played its part, Inox’s aggressive screen addition and efforts to take the cinema experience to new levels also added a gleam to the historic performance.
The company has added 27 new screens in the FY20 so far, underlining its expansion focus. Inox continued its focus on technology and formats with the roll-out of India’s first 270-degree multi-projection ScreenX auditorium at Inorbit Mall Malad, Mumbai and Quest Mall, Kolkata
Inox Group Director Siddharth Jain said, “At Inox, setting new benchmarks is now a routine, thanks to our consistently sharp focus on luxury, service, and technology and our uncompromised desire to offer our patrons, nothing but the latest and the best! We are delighted with our remarkable consistency on all parameters, and we are sure about maintaining the momentum and focus on innovativeness. Content once again proved why we term it as the ‘hero’.
“Thanks to the creators of such spellbinding movies, which keep inviting our guests to our properties, and allowing us to pamper them with our signature hospitality. With the launch of Megaplex, we are delighted to further our endeavor of developing experience-driven cinema destinations of global standards, and we will continue to do so. On behalf of Team Inox, I assure all our stakeholders that we will continue to break barriers and exceed all expectations.”
Making a global mark, Inox launched Megaplex – world’s first multiplex with maximum formats under one roof, at Inorbit Mall Malad. Besides being an architectural marvel spread over 60,000 Sq Ft, the 11-screen spectacle is also a destination for connoisseurs of good food with numerous F&B concepts and cuisines.