PVR INOX reported strong financial results for the second quarter and first half of fiscal year 2026. Revenue increased by 12% in Q2 and 17% in H1. EBITDA and PAT also showed substantial growth, driven by strong box office performance and advertising revenue. The company is on track to expand its screen network and capitalize on a robust content pipeline.
Key Financial Highlights
PVR INOX showcased robust financial performance for the Second Quarter and First Half of FY26:
- Q2 Revenue: ₹18,432 million, a 12% increase year-over-year.
- Q2 EBITDA: ₹3,273 million, with a 17.8% margin.
- Q2 PAT: ₹1,265 million, a significant improvement, resulting in a 6.9% margin.
- H1 Revenue: ₹33,311 million, reflecting a 17% year-over-year growth.
- H1 EBITDA: ₹4,414 million, with a 13.3% margin.
- H1 PAT: ₹929 million.
These figures represent the highest revenue, EBITDA, and PAT for PVR INOX in the last two years.
Key Operating Highlights
The company also reported strong operational metrics:
- Q2 Admits: 44.5 million, a 15% increase.
- Q2 ATP (Average Ticket Price): ₹262, up 2%.
- Q2 SPH (Spend Per Head): ₹134.
- H1 Admits: 78.5 million, up 13%.
- H1 ATP: ₹259, up 5%.
- H1 SPH: ₹140, an increase of 4%.
PVR INOX achieved the highest admissions in the last two years, supported by strong ATP and SPH.
Advertising Revenue
Advertising revenue also saw substantial growth:
- Q2 Ad Revenue: ₹1,256 million, a 15% increase year-over-year.
- H1 Ad Revenue: ₹2,352 million, up by 16%.
This increase was attributed to longer campaigns driven by blockbuster movie visibility.
Box Office Performance
The first half of FY26 saw a record number of films exceeding ₹100 crore in revenue. Specifically, there were 12 such films in Q2 FY26 and 22 films in H1 FY26. A balanced mix of films, including regional content, drove box office performance. Collections from films in the ₹100-500 crore range surged to 59% in H1 FY26, compared to 21% in H1 FY25.
Screen Growth Update
PVR INOX continues to expand its screen network. 20 new screens were opened in Q1 FY26, and 22 new screens were opened in Q2 FY26. This brings the total screen count to 1,761 screens in 111 cities. The company remains on track to open approximately 100 new screens in FY26.
Capital Light Model
PVR INOX continues to focus on its capital light model, with 132 screens currently signed under this model. 88 are operating on an asset light basis.
Content Pipeline
The company has a robust content pipeline of films, including Bollywood, Hollywood, and regional cinema.
Debt Reduction
Net debt post-merger has been reduced by more than half.
Source: BSE
