Multiplex chain PVR Inox saw its loss widen to ₹136.6 crore in the first quarter of FY25, from Rs. 44.1 crore a year ago. Admissions in cinemas fell by 10.4% to 30.4 million as the Lok Sabha elections and the Indian Premier League caused filmmakers to postpone big releases.
Despite minor successes such as Munjya, Mr & Mrs Mahi, and Srikanth, the quarter was mostly dull. Revenue from the sale of movie tickets fell by 14.5% from the first quarter of FY24, while food and beverage sales dipped by 6.1%.
The general elections in April and May were the second-longest in India’s history at 44 days. This prompted many producers to postpone film releases, resulting in 13% fewer films released in the quarter than in the same period last year.
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PVR Inox said in a statement, “The number of blockbusters also declined sharply this quarter, with only three films crossing the ₹100-crore mark compared to seven last year. Last year’s writer and actor strikes impacted Hollywood releases, but we expect a significant improvement in the Hollywood lineup in the second half of FY25.”
The company opened 50 new screens and closed 14 underperforming ones during the quarter, for a net addition of 36. It now has 1,754 screens in 361 cinemas across 113 cities in India and Sri Lanka.
All eyes on Kalki
Ajay Bijli, managing director, PVR INOX Ltd, said in a statement, “With Kalki’s continued success and a promising lineup ahead across languages, Q2 has begun on a positive note. There are no significant events expected in the near future to disrupt the release schedule. Additionally, Hollywood is expected to bounce back, as the effects of the writer and actor strikes are beginning to diminish. We anticipate a significantly improved performance in the remaining three quarters of the current fiscal year.”
Released at the end of June, Kalki 2898 AD, a period drama starring Prabhas, Deepika Padukone and Amitabh Bachchan, contributed nearly 16% to the quarterly box office in just four days, PVR Inox said.
Upcoming Hindi movies include Stree 2 starring Shraddha Kapoor and Rajkummar Rao; Deva starring Shahid Kapoor; Jigra starring Alia Bhatt; Bhool Bhulaiya 3 starring Kartik Aryan; Singham Again starring Ajay Devgan; and Baby John starring Varun Dhawan. Allu Arjun’s Pushpa 2, GOAT starring Vijay Thalapathy, and Kanguva starring Suriya are other big titles scheduled for the coming months.