Mumbai, May 12 (IANS) Multiplex operator PVR Inox on Monday reported a net loss of Rs 125.3 crore for the fourth quarter (Q4) of FY25, marking a sharp reversal from a profit of Rs 35.5 crore in the previous quarter (Q3).
The decline came on the back of a significant drop in revenue and overall income, as per the company’s stock exchange filing.
The multiplex operator’s revenue from operations fell by 27.3 per cent to Rs 1,249.8 crore in Q4, compared to Rs 1,717.3 crore in Q3.
“FY25 was a challenging year for the box office, primarily due to an inconsistent film release calendar and underwhelming content. This led to a 9 per cent drop in gross box office revenue for the company,” the company said in its exchange filing.
PVR Inox attributed the decline to a 14 per cent reduction in film releases, the lack of major star-driven blockbusters, and multiple postponements.
However, the company’s Managing Director Ajay Bijli described FY25 as a ‘year of transformation’ for the company.
“It was marked by a renewed focus on innovation and agility. We shifted from being reactive to becoming resilient, emerging as a more agile, future-ready organisation,” he said.
Total income also declined by 25.46 per cent, down to Rs 1,311.2 crore from Rs 1,759.1 crore in the previous quarter.
Profit before tax, which stood at Rs 46.2 crore in the third quarter, turned into a loss of Rs 167.7 crore in Q4.
Net profit attributed to the owners of the company also swung into the red. It stood at a loss of Rs 125 crore in Q4, compared to a profit of Rs 35.9 crore in the previous quarter.
Despite the fall in revenue and profits, PVR Inox managed to reduce its expenses during the quarter.
Total expenses came down by 13.67 per cent to Rs 1,478.7 crore in Q4, compared to Rs 1,712.8 crore in Q3 — indicating some cost-control measures by the company.