PVR INOX reported a consolidated net profit of Rs 263 crore in the July-Sept quarter, compared to Rs 106 crore in the same period last year, an increase of 149%, as the company announced in its report on October 28. The company’s revenue from operations went up by 17% to Rs 2,105 crore, a record for a single quarter.
This is in continuation of its recovery. PVR INOX had posted a loss of Rs 11.8 crore in the September quarter of 2024 and made a profit of Rs 105.7 crore in the September quarter of 2025. The revenue from operations grew on a sequential basis from Rs 1,611 crore in the June quarter, and PAT from Rs 56.5 crore.
PVR INOX, in its investor presentation, has given the numbers on an adjusted basis under Ind AS 116. According to that, total income grew by 17% to Rs 2,133 crore and profit after tax went up 111% to Rs 273 crore. The difference in profit growth is majorly due to this difference in the basis of accounting.
Margins widen as ticket prices and food spending rise
The EBITDA on an adjusted basis has gone up by 44% to Rs 475 crore, while the EBITDA margin has increased by around 420 basis points to 22.3%. Admissions grew by 4% to 46.3 million. Occupancy has increased to 30.4% from 28.7%. Average ticket price, as well as food & beverage spend per head, has increased by 14% to Rs 298 and Rs 153, respectively. Though occupancy is still lower by 160-410 basis points from FY20 levels, the H1 EBITDA margin at 18.7% is higher than 17-18% in FY20.
Ticket revenues grew by 18% to about Rs 1,160 crore while revenues from food and beverage increased by 18.3% to around Rs 668 crore. On the industry level, gross box office clocked in 23% higher at ₹4,443 crore. Management highlighted that this outperformance by the industry is due to a higher proportion of mass movies in the mix, which performed better in single screens.
Net cash position and the screen pipeline
Net cash positive is to the tune of ₹140.7 crore following a Rs 300 crore share buyback (at end of Sep’25; net debt of ₹618.8 crore at end Sep’25 YTY). The buyback was in respect of around 2.07mn shares at a price of ₹1,430 per share, which concluded on 24th Sep’25. The board also approved a new capital allocation & dividend distribution policy.
Revenue in H1 FY26 grew by 15% to Rs 3,775cr. EBITDA grew by 56% to Rs 705cr while PAT increased by 233% to Rs 344cr in H1 FY26. PVR INOX had 1,797 screens in 114 cities (India and Sri Lanka) as of the end of Sep’25. It added 24 screens while shutting down 25 screens in H1 FY26. The company is focused on adding 90-100 screens in FY27.
Ajay Bijli, the MD of the company, expressed confidence in building a fundamentally better business. He highlighted the key path of growth through capital-light formats and SMART cinemas. The company highlighted upcoming releases like Ramayana: Part One, King, The Hunger Games: Sunrise on the Reaping, and Avengers: Doomsday.