MUMBAI, 29 JANUARY, 2023 (GPN): INOX Leisure Ltd the Multiplex Cinema exhibition chain which is in the process of merging with PVR, has widened its net loss for the quarter ending December 31 2022 to Rs 40.42 crore compared to Rs 1.3 crore in the corresponding quarter of the previous fiscal. Revenue has zoomed 74% to Rs 516 crore from Rs 296 crore while expenses jumped 63% to Rs 493 crore as against Rs 303 crore.

The company has also reported the highest-ever quarterly Average Ticket Price (ATP) and Spends Per Head (SPH) of Rs 230 and Rs 106, respectively.

Commenting on the results, Siddharth Jain, Director – INOX Leisure Ltd says, “The inevitable cheerfulness and buoyancy is back on the cinema floor, and is clearly reflecting on our quarterly performance. This quarter not only reiterates the fact that normalcy is back, but also reconnects us with our usual journey of growth and profitability. Our constant pursuit of innovativeness and our desire to offer the best cinema-viewing experience have played significant roles in a quarter which may be termed as a remarkable one. Content, like always, remains the most critical aspect, and would continue to play a pivotal role in the coming quarters as well. With the new merged entity with PVR soon to take shape, we look forward to the new journey, which would have top-notch guest-experience forming the core of all its decisions.”

During the quarter, Inox received footfalls of 15.3 million people which translated to an occupancy rate of 23% on the back of blockbuster films like Avatar: The Way of Water, Kantara, Ponniyin Selvan: Part 1 and Drishyam 2.