Inox Q4 consolidated net profit drops 17% to Rs 48.1 cr

MUMBAI: Cinema exhibitor Inox Leisure has reported a 17% drop in consolidated net profit for the quarter ended 31st March at Rs 48.1 crore as against Rs 57.7 crore in the corresponding quarter of the previous fiscal.

The company’s EBITDA for the quarter zoomed to 121.9% to Rs 97.4 crore from Rs 43.9 crore. The EBITDA margin increased 678 Bps to 20.3% from 13.6%. Total revenue jumped 48% to Rs 478.8 crore.

Spends Per Head increased 9% to Rs 73 in Q4. Ad revenue jumped 29% to Rs 43 crore. Overall footfall increased by 42% to 180 lakh while occupancy increased to 31% from 25%. Average ticket price declined 2% to Rs 189.

The Top 5 Movies in Inox in terms of box office collection were URI The Surgical Strike, Gully Boy, Simmba, Total Dhamaal, and Kesari. The top 5 films accounted for 48% of Gross Box Office Collection (GBOC) in Q4 compared to 53% in Q4 FY18.

For the full fiscal, the company’s net profit jumped 16% to Rs 133.5 crore from Rs 114.6 crore in the previous fiscal. EBITDA increased 46.9% to Rs 309.2 crore from Rs 210.4 crore. EBITDA margin expanded by 266 Bps to 18.3% from 15.6%. Revenue rose 25.5% to Rs 1692.2 crore from Rs 1348.1 crore.

Spends Per Head or SPH showed 11% growth on a yearly basis, owing to Inox’s efforts to transform cinema into a complete family destination offering a wholesome dining experience. Innovative and themed F&B offerings around movies & festivals, the addition of LIVE kitchens, and introduction of vibrant menus proved to be the drivers of a healthy F&B and SPH growth.

Advertising Revenues witnessed a 27% jump due to renewed GTM rigor, identification of new advertiser segments and an approach of co-strategising integrated campaigns with clients.

Footfalls at INOX properties rose by 17% as content took centre stage in FY18-19. Not just the blockbusters like Uri, Sanju, Simba and 2.0 played their part, but the movies in other regional languages and Hollywood too contributed towards attracting larger audiences to Inox’s multiplexes.

The company added 85 screens in the entire financial year, depicting its commitment towards being the fastest growing cinema chain in the country. Inox continued its focus on technology and formats with the introduction of Samsung Onyx screen, MX4D Theatre Effects, and BigPix screen during the year.

“We are proudly summing up our best-ever financial year with a best-ever quarter. Both, FY18-19 and the Quarter 4 have shown an unprecedented growth on multiple dimensions, like operational revenues, earnings, advertising, and F&B, strongly underlining our commitment towards offering an unmatched experience to our guests. The standout story for us has been the addition of 85 screens in a single FY, an industry record in itself, adding to the grandeur of our financial performance. The FY also witnessed a new genre of content emerging which received an overwhelming response from our audiences who thronged our multiplexes across the country. Our performance on the advertising business front is a testimony to our renewed approach and rigor,” said Inox Group director Siddharth Jain.

“The strategic momentum built by investments in screen additions will continue to fuel our growth story in the next FY as well. We are obsessed with innovativeness and that is what makes us re-invent the customer experience with the latest technologies, new formats, luxury and food. We would like to thank all the stakeholders for their continued faith and support.”

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