Multiplex chain PVR Inox, India, has reported a profit of Rs 166.3 crore in the second quarter of fiscal 2024 as against a loss of Rs 81.6 crore in the June quarter on account of the success of films including Jawan, Jailer, and Gadar 2, according to the company.
The exhibitor in the June quarter was hit by a below-average performance of Hindi films, a slow recovery in footfalls and cinema advertising revenue. On the other hand, a slew of successful films at the box office led to the company reporting profits in Q2.
Brokerages estimated the multiplex chain to report a profit of Rs 153 crore in the second quarter. Analysts also expected the company to report a record performance in Q2 with revenues of Rs 1,890 crore as eight movies crossed Rs 100 crore net box office collections (NBOC) in the September quarter.
The biggest highlight of the quarter was the record-breaking performance of the Hindi box office. Shah Rukh Khan's Jawan and Sunny Deol-starrer Gadar 2 ranked among the highest-grossing Hindi films of all time, grossing more than Rs 750 crore and more than Rs 620 crore at the box office respectively. They were complemented by solid performance of mid budget movies, with Rocky aur Rani ki Prem Kahani and Oh my God 2 grossing over Rs 150 crore and Dream Girl 2 crossing the Rs 100 crore mark. Fukrey 3 released near quarter end, also crossed Rs 100 crore at the box office.
“In the upcoming months, we are highly optimistic about the content lineup across various languages including Hindi releases like Tiger 3, Animal, Sam Bahadur, Yodha and Dunki,” said Ajay Bijli, managing director, PVR Inox.