PVR INOX (PVRINOX) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 delivered record box office collections, highest quarterly ATP (INR 281) and SPH (INR 140), and ad revenues at INR 149 crores, the highest since the pandemic.

• Q3 FY25 total income rose 10.8% YoY to INR 17,388 Mn, with EBITDA margin at 14.9% and net profit at INR 681 Mn.

• 37.3 million guests visited cinemas in Q3; total revenue reached INR 1,739 crores, EBITDA INR 258 crores, and PAT INR 68 crores, all up year-over-year.

• Strong rebound in Hollywood and regional box office offset a weak Hindi film slate; Pushpa 2 contributed 36% to Q3 India box office.

• Board approved unaudited results for Q3 and 9M FY25; no audit qualifications or defaults reported.

Financial highlights

• Q3 FY25 revenue: INR 1,739 crores (up from INR 1,569 crores YoY); EBITDA: INR 258 crores (vs INR 226 crores YoY); PAT: INR 68 crores (vs INR 41 crores YoY).

• Q3 FY25 total income: INR 17,388 Mn (+10.8% YoY); EBITDA: INR 2,583 Mn (14.9% margin); PAT: INR 681 Mn.

• Standalone Q3 revenue: Rs 15,958 million; consolidated Q3 revenue: Rs 17,173 million; consolidated Q3 net profit: Rs 359 million.

• Highest ever quarterly ATP (INR 281) and SPH (INR 140) achieved.

• Net debt reduced to INR 996 crores as of Dec 2024, down INR 435 crores since March 2023.

Outlook and guidance

• 100-110 new screens expected to open in FY25, with majority under capital-light or asset-light models.

• CapEx for FY25 to be below INR 400 crores, down 35% YoY; FY26 CapEx expected at INR 400-500 crores.

• Strong content pipeline for 2025 across Hindi, Hollywood, and regional films, with major franchise releases lined up.

• Management and auditors confirm no material misstatements; results available on stock exchange and company websites.