India's PVR Inox posts wider quarterly loss on tepid film slate, sluggish urban spending
May 12 (Reuters) - PVR Inox (PVRL.NS), opens new tab, India's largest multiplex chain, reported a wider quarterly loss on Monday, as a lacklustre line-up of new film releases and muted urban spending dampened audience turnout.
The company, formed by the merger of PVR and Inox labels, reported an adjusted consolidated loss of 1.06 billion rupees ($12.48 million) in the fourth quarter, compared with a loss of 901 million rupees a year ago.
PVR blamed an "uneven release calendar" in fiscal 2025 for the performance, with March flagged as a particularly weak month. This lull in content contributed to the overall decline in admissions and revenue.
Among major Hindi-language titles during the quarter, only historical action film "Chhaava" delivered a strong box office showing.
The subdued demand comes amid ongoing pressure on urban consumption, driven by sluggish wage growth and a high cost of living, even as inflation continues to moderate.
Amid an increase of 10.5% year-on-year in the average ticket price, per-head spending on food and beverages dropped 3.5%, dragging revenue from the food and beverages' segment down 7.8%.
To revive audience turnout, PVR Inox has rolled out weekday discounts and re-released older films. Still, quarterly occupancy fell by 208 basis points to 20.5%, while total admissions declined 6.3% to 30.5 million.
PVR Inox's overall revenue declined marginally to 12.50 billion rupees.
($1 = 84.9050 Indian rupees)
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