Revenues reported at Rs 522 Cr, EBITDA at Rs 87 Cr* and Adjusted PAT at Rs 40 Cr*#

• Company reported highest ever Quarterly Average Ticket Price of Rs 230
• Company reported its highest ever Quarterly Spends Per Head at Rs 106
• 15.3 mn guests visited INOX cinemas in Q3’FY23 giving an occupancy rate of 23%
• The company added 4 new properties with 15 screens in Q3’FY23; 3 screens multiplex at CMR Mall, Gajuwaka, 4 screens multiplex at Centro Mall, Mysuru, 3 screens multiplex at Laila Mall, Vijayawada and 5 screens multiplex at RCube Monad Mall, New Delhi
• INOX now operates 722 screens across 170 multiplexes in 74 cities
• The company launched AmpliX, an innovative seat-integrated sound technology, which offers a 360-degree spherical audio experience on cinema seats 
• Company has a strong liquidity of Rs 355 Cr (including undrawn limits of Rs 125 Cr) as on 28th January 2023 and also continues to remain net debt free
• Company added 45 screens in the first 9 months of FY23, which is the highest screen addition in Industry 
• Screen addition to continue in Q4FY23 with 7 properties and 32 screens in pipeline 
• NCLT Mumbai bench has allowed the proposed scheme of amalgamation between INOX Leisure Ltd. With PVR Ltd. on 12th January 2023

MUMBAI, JANUARY 30th, 2023 (GPN): INOX Leisure Ltd reported financials for the Third quarter ending 31st December 2022. The results were taken on record by the Board of Directors today. The Company reported Revenues at Rs 522 Cr, with EBITDA standing at Rs 87 Cr* and Adjusted PAT at Rs 40 Cr*# for Q3’FY23. The company reported its highest-ever quarterly ATP of Rs 230 and SPH at Rs 106. INOX has managed to maintain a strong liquidity of close to Rs 355 Cr (including undrawn limits of Rs 125 Cr) as on 28th January 2023.

With the content supply resuming normalcy, the Company witnessed the usual buoyancy in the business, resulting into best ever levels on key quarterly metrics of ATP and SPH. Q3’FY23 saw blockbusters, including Avatar: The Way of Water, Kantara, Ponniyin Selvan: Part 1 and Drishyam 2 resulting into a footfall of 15.3 Mn guests with an occupancy rate of 23%. With Pathaan breaking the shackles and creating multiple records, the Company expects a greater turnaround in the business going forward, thanks to a fascinating content lineup in the upcoming quarters with releases like Shehzada, Selfiee, Tu Jhooti Main Makkar, Bholaa, John Wick: Chapter 4, Ant-man and the Wasp: Quantumania, Vaathi (Tamil) and Shaakuntalam (Telugu). 

Company continued its drive to roll out consumer-centric innovations on content, technology and F&B front. With the LIVE screening of FIFA World Cup Qatar 2022 and the ICC T20 Men’s Cricket World Cup, INOX enthralled its sports-loving audiences. A revolutionary seat-integrated sound technology, AmpliX was launched at INOX Megaplex at Mumbai, offering a 360-degree spherical audio experience on cinema seats. On the culinary front, INOX introduced an array of movie-centric and seasonal specialties, ensuring a higher quarterly SPH than ever before at Rs 106.  

The company added 45 screens in the first 9 months of FY23, which is also the highest screen addition in the industry. The company added 4 new properties with 15 screens in Q3’FY23; a 3 screens multiplex at CMR Mall, Gajuwaka, 4 screens multiplex at Centro Mall, Mysuru, 3 screens multiplex at Laila Mall, Vijayawada and  5 screens multiplex at RCube Monad Mall, New Delhi. The company plans to add 7 properties and 32 screens in Q4’FY23. 

On the proposed INOX-PVR merger, the NCLT Mumbai bench has allowed the proposed scheme of amalgamation between INOX Leisure Ltd. with PVR Ltd. on 12th January, 2023. The merger process is likely to be completed within next 30-40 days.  

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.” 

Summary of the Operational Results*

Particulars	Q3’FY22
Revenues (in Rs Cr)	522
EBITDA (in Rs Cr)	87
Adjusted PAT (in Rs Cr)	40#
ATP (In Rs)	230
SPH (In Rs)	106

*Excludes impact of Ind AS 116         

 #Following has been added back to derive Adjusted PAT for Q3FY23

• 43 Cr of Deferred tax charge on account of business loss written off
• 24 Cr X (1-Tax) of Merger Expenses (exceptional items)

About INOX Leisure Limited:

INOX Leisure Limited (INOX) is amongst India’s largest multiplex chains with 170 multiplexes spanning 722 screens across 74 cities. INOX has redefined movie experiences in India making it truly a 7-star experience. Each INOX property is unique with its own distinct architecture and aesthetics. Beyond the normal screens, INOX also has INOX INSIGNIA for the discerning audience or KIDDLES for young patrons or MX4D® EFX Theatre for an immersive experience or the panoramic viewing with ScreenX at select locations. INOX brings the very latest in projection and audio technology with INOX Laserplex, IMAX & INOX ONYX. Some of the key multiplex features include plush, micro-adjustable leather recliners with a butler-on-call facility, gourmet meal choices by celebrity chef, designer staff uniforms. INOX recently launched Megaplex, massive experience-driven entertainment destinations at Palassio Mall, Lucknow, and at Inorbit Mall, Malad, Mumbai, which is home to the most number of cinema formats in the world.

BSE link of the Earnings Presentation, – https://www.bseindia.com/xmldata/corpfiling/AttachLive/938bdb30-ac45-4c4e-91d3-c081edf37aee.pdf