Latest news with #AjayBijli
Time of India
2 days ago
- Business
- Time of India
PVR INOX banks on good movie releases, OTT fatigue for profitability: MD Ajay Bijli
Cinema exhibitor PVR INOX is looking to build on the momentum of a strong first quarter, tapping new good movie releases and consumer fatigue with OTT as it seeks to return to profitability , according to its Managing Director Ajay Bijli . Having recorded a 12 per cent year-on-year growth in people visiting the company's cinemas at 3.4 crore in the first quarter of this fiscal, despite a subdued April, the business has bounced back, Bijli told PTI. "We are obviously very happy that business has bounced back. We've always been very confident about the fact that Indian consumers will always consider going out and watching movies on the big screen as the number one form of entertainment," he noted. Watching movies on the big screen will coexist with all the other formats of consuming content, Bijli added. Asked when the company expects to be in the black, Bijli said, "Normally, I don't give any all I can say is that the momentum is there, and all the movies that are coming up are in the public domain". July has started very well with movies, such as Saiyaara, Superman, Jurassic Park: Rebirth, F1 Fantastic Four: First Steps and Mahavtar Narsimha, he said, adding that two big movies -- Rajinikanth-starrer Coolie and War 2 , which is a strong franchise, are already lined up for August 14 release. "People already know that there's a huge August 15 the lineup at least gives us the confidence and people's behaviour to come out, (after) getting a little bit of fatigue factor from OTT -- it is giving us an indication that occupancies will only improve from here on," Bijli said without sharing guidance on the timelines for profitability. In the first quarter of 2025-26, PVR INOX reported a narrowing of consolidated loss after tax to Rs 54.5 crore, mainly due to good content movies driving up footfall and revenue growth. It had posted a consolidated loss after tax of Rs 179 crore in the corresponding period of the preceding fiscal. Its consolidated revenue from operations in the first quarter stood at Rs 1,469.1 crore compared to Rs 1,190.7 crore in the year-ago period. "What we need to do is make sure that we are delivering a great offering to the consumer when they come out, and just rely on the content makers to continue to make movies which connect with the audience," Bijli said.
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Business Standard
3 days ago
- Business
- Business Standard
PVR Inox banks on good movie releases, OTT fatigue for profitability: MD
Cinema exhibitor PVR Inox is looking to build on the momentum of a strong first quarter, tapping new good movie releases and consumer fatigue with OTT as it seeks to return to profitability, according to its Managing Director Ajay Bijli. Having recorded a 12 per cent year-on-year growth in people visiting the company's cinemas at 3.4 crore in the first quarter of this fiscal, despite a subdued April, the business has bounced back, Bijli told PTI. "We are obviously very happy that business has bounced back. We've always been very confident about the fact that Indian consumers will always consider going out and watching movies on the big screen as the number one form of entertainment," he noted. Watching movies on the big screen will coexist with all the other formats of consuming content, Bijli added. Asked when the company expects to be in the black, Bijli said, "Normally, I don't give any all I can say is that the momentum is there, and all the movies that are coming up are in the public domain". July has started very well with movies, such as Saiyaara, Superman, Jurassic Park: Rebirth, F1 Fantastic Four: First Steps and Mahavtar Narsimha, he said, adding that two big movies -- Rajinikanth-starrer Coolie and War 2, which is a strong franchise, are already lined up for August 14 release. "People already know that there's a huge August 15 the lineup at least gives us the confidence and people's behaviour to come out, (after) getting a little bit of fatigue factor from OTT -- it is giving us an indication that occupancies will only improve from here on," Bijli said without sharing guidance on the timelines for profitability. In the first quarter of 2025-26, PVR Inox reported a narrowing of consolidated loss after tax to Rs 54.5 crore, mainly due to good content movies driving up footfall and revenue growth. It had posted a consolidated loss after tax of Rs 179 crore in the corresponding period of the preceding fiscal. Its consolidated revenue from operations in the first quarter stood at Rs 1,469.1 crore compared to Rs 1,190.7 crore in the year-ago period. "What we need to do is make sure that we are delivering a great offering to the consumer when they come out, and just rely on the content makers to continue to make movies which connect with the audience," Bijli said.
Business Standard
6 days ago
- Business
- Business Standard
PVR Inox gains as Q1 losses narrow
PVR Inox rose 2.40% to Rs 1,060.20 after the company posted a sharp reduction in losses for the first quarter ended June 2025 (Q1 FY26). The cinema exhibitor reported a net loss after minority interest of Rs 54 crore in Q1 FY26, compared to a significantly wider loss of Rs 178.70 crore in the same quarter last year. Net sales rose 23.38% year-on-year to Rs 1,469.10 crore, up from Rs 1,190.70 crore in Q1 FY25. Despite reporting a loss before tax (PBT) of Rs 70.30 crore, this marks a substantial improvement over the Rs 238.10 crore loss in the year-ago quarter. EBITDA jumped 53.35% year-on-year to Rs 429.70 crore in Q1 FY26. On the expense side, total expenditure rose 14.13% to Rs 1,071.90 crore. Depreciation costs remained steady at Rs 308.50 crore, while interest expenses eased by 6.22% to Rs 191.40 crore. Operating metrics also painted a positive picture. Patron visits rose 12% YoY to 34 million, while the Average Ticket Price (ATP) increased 8% YoY to Rs 254. The company recorded its highest-ever F&B spend per head at Rs 148, up 10% YoY, and also achieved its highest Q1 ad revenue post-pandemic, at Rs 109.6 crore, marking a 17% YoY growth. Meanwhile, net debt stood at Rs 891.5 crore, a 38% reduction since the merger. As of now, PVR Inox operates 353 cinemas with 1,745 screens across 111 cities in India and Sri Lanka. Looking ahead, the company expects the remainder of FY26 to benefit from a well-paced and diverse film release calendar. Ajay Bijli, managing director, PVR Inox, said, "FY26 has begun on a positive note, with Q1 delivering healthy growth across key operating and financial metrics. The momentum has been supported by a well-performing and steady content slate, giving us confidence in the year ahead. With a robust pipeline of films across Hindi, Hollywood, and Regional cinema, we expect FY26 to be a strong year for the exhibition business. Our focus remains on delighting audiences through innovative initiatives, sustaining cost discipline, and continuing to build long-term value for all our stakeholders."
Business Standard
6 days ago
- Business
- Business Standard
PVR INOX narrows Q1 loss to ₹54 crore on strong lineup, cost control
PVR INOX, India's largest cinema exhibitor, has focused on tighter control over its operating costs through reduction in its electricity and marketing expenses to narrow down its losses. This was also helped by a strong lineup of movies from Hollywood and Bollywood in the first quarter of 2025-26 (Q1FY26). 'We have to have our eye on the ball as far as cost-cutting is concerned,' Ajay Bijli, founder of PVR Cinemas and managing director (MD) of PVR INOX, told Business Standard in an interview. 'On our comparable properties, there has been a marginal increase in manpower, our electricity costs have gone down along with marketing and rent expenditure (in Q1FY26 on a year-on-year or Y-o-Y basis). It is an extremely important part of our strategy to not just rely on movies and improve our revenues but also keep an eye on the cost.' PVR INOX's consolidated net loss narrowed down to ₹54 crore in Q1FY26 on a Y-o-Y basis. The company's revenue from operations rose by 23.38 per cent to ₹1,469.1 crore during the quarter compared with Q1FY25. Its other income increased by 12.89 per cent Y-o-Y to ₹32.4 crore. In the earnings call, an executive of the company said that PVR INOX was able to control electricity consumption by air-conditioning utilities based on the occupancy levels within the cinema halls. It has also deployed solar panels in the cinema, which have reduced its dependence on grid electricity. PVR INOX's profit before depreciation, interest, and taxes (PBDIT) rose by 53.32 per cent to ₹429.6 crore in Q1FY26 compared with the same quarter last year. In Q1FY26, a total of 10 films crossed the ₹100 crore mark, and three crossed the ₹200 crore mark. Bollywood box office collections of PVR INOX surged by 38 per cent in the quarter on a Y-o-Y basis, fuelled by films like Ajay Devgn's Raid 2, Aamir Khan's Sitaare Zameen Par, Kesari Chapter 2, Housefull 5, and Jaat, its earnings release stated. Similarly, with back-to-back major releases from Hollywood like Mission: Impossible – The Final Reckoning, Final Destination Bloodlines, From the World of John Wick: Ballerina and F1, PVR INOX saw 20 per cent rise in admissions during the quarter on a Y-o-Y basis for its premium and experiential formats like IMAX and 4DX. Bijli noted that the momentum in the industry is back, both from the filmmakers' side and the consumers' side, for watching movies on the big screen. 'Things are only going to get better from here. In July, despite the nail-biting (cricket) Test series between India and England, people came and watched movies like Jurassic World Rebirth, Superman, and The Fantastic Four: First Steps. There's also an amazing amount of traction that we are seeing for the August 15 weekend, when movies like War 2 and Coolie will be releasing,' he said. The company observed 34 million admissions during the quarter, up by 12 per cent on a Y-o-Y basis. It recorded its highest-ever food and beverage spend per head, which rose 10 per cent to ₹148, according to the release. PVR INOX opened 20 new screens in Q1FY26 and plans to open 100 new screens this year, Bijli added.
Economic Times
7 days ago
- Business
- Economic Times
Bollywood blitz: Raid 2, Housefull 5, Sitaare Zameen Par power PVR INOX's box office collection
Agencies Representative image PVR INOX reported a robust rebound in Bollywood viewership in the first quarter of FY26, with five Hindi films crossing the Rs 100 crore mark and contributing to a 38% year-on-year surge in the company's domestic box office collections.'Bollywood box office collections of PVR INOX surged 38% YoY, fueled by successful releases like Raid 2, Sitaare Zameen Par, Kesari Chapter 2, Housefull 5, and Jaat. Each of these five films crossed the ₹100 crore mark, with three of them surpassing the ₹200 crore mark — underscoring a more balanced and consistent performance,' PVR INOX said on company also saw strong performance from Hollywood titles, where it holds a substantial market share. Hollywood box office revenue grew 72% YoY, driven by major global franchises such as Mission Impossible, Final Destination: Bloodlines, Ballerina, and the event film F1. Premium formats like IMAX and 4DX contributed significantly to this momentum, with a 20% YoY growth in admissions. Regional cinema remained steady in Q1, with notable contributions from Tamil title Good Bad Ugly, Malayalam release Thudarum, and surprise hits like Tourist Family (Tamil), helping maintain a diversified content pipeline across languages, PVR INOX said. In line with its 'Manufacturing Footfalls' strategy, the company launched 'Blockbuster Tuesdays' in April, offering tickets starting at just ₹99. The initiative brought nearly 1 million new and lapsed transactors back to cinemas, significantly boosting weekday INOX also ramped up alternate programming — including re-releases, live screenings of IPL matches, concerts, and stand-up comedy shows — which collectively drew over 5 lakh admissions during the quarter. These efforts reflect the growing appeal of non-traditional content and strengthen the company's positioning of cinemas as multipurpose entertainment the quarter also faced headwinds from external disruptions. The company estimated a loss of nearly 6–7 lakh admissions due to factors such as 'Operation Sindoor', protests surrounding the release of the Punjabi film Akaal, and the indefinite suspension of the anticipated Sardaarji 3. 'FY'26 has begun on a positive note, with Q1 delivering healthy growth across key operating and financial metrics. The momentum has been supported by a well-performing and steady content slate, giving us confidence in the year ahead. With a robust pipeline of films across Hindi, Hollywood, and Regional cinema, we expect FY'26 to be a strong year for the exhibition business. Our focus remains on delighting audiences through innovative initiatives, sustaining cost discipline, and continuing to build long-term value for all our stakeholders," said Ajay Bijli, Managing Director, PVR INOX Ltd.
