INOX Leisure reported a consolidated net loss of Rs 40.37 crore in Q2 FY23 as against a net loss of Rs 87.66 crore in Q2 FY22.
The multiplex chain operator recorded steeply higher revenue from operations of Rs 374.12 crore in Q2 FY23 from Rs 47.44 crore in the corresponding period last year.The company reported a pre-tax loss of Rs 53.45 crore in Q2 FY23 as against a pre-tax loss of Rs 116.73 crore in Q2 FY22.
Total expenditure increased by 155.1% YoY to Rs 434.24 crore in the quarter ended 30 September 2022.
INOX said, with 11.6 million guests visiting INOX cinemas across the country, the quarter saw an occupancy rate of 17%. Average ticket price (ATP) stood at Rs 215 while spends per head (SPH) was Rs 102 in the quarter ended on 30 September 2022.
The company plans to add 11 properties and 47 screens in the financial year ending 31 March 2023.
Commenting on the results, Siddharth Jain, Director of INOX Leisure said, Pandemic has taught us to remain battle-fit and come up with answers to difficult situations. The second quarter of FY23 was impacted by the inconsistency in the content value chain, proving the importance of great quality content yet again.
We are delighted with our promising performance on the F&B front with our highest ever quarterly spends per head. Our foray in Kashmir with the region's first multiplex marked the revival of cinemas in the valley, and we are quite upbeat about this historic launch, which underlines our desire to entertain India across its length and breadth. The spectacular content pipeline, the festive fervour and our consistent rigor will certainly mark a celebratory third quarter for us.
INOX Leisure is amongst India's largest multiplex chains with 161 multiplexes and 681 screens across 72 cities.
The scrip rose 0.65% to end at Rs 514.55 on the BSE.
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