Mumbai: Inox Leisure Ltd (Inox) has reported financials for the third quarter ending 31 December 2021. The company has posted revenues at Rs 301 crore. The occupancy rate touched 19 per cent with 9.4 million guests visiting Inox cinemas across the country.
The quarter also reported the highest ever quarterly Average Ticket Price (ATP) at Rs 226 and the highest ever quarterly Spends Per Head (SPH) at Rs 97.
A sharp recovery was signaled by major business metrics showing a significant reduction in gap with pre-Covid levels largely due to good content and reduced apprehensions post widespread vaccination.
The response to "Sooryavanshi," "Spider-Man: No Way Home," "Annaatthe," "Pushpa: The Rise," and "83" was comparable with the pre-pandemic times, with two films garnering box-office collections in excess of Rs 200 crore and three in excess of Rs 100 crore.
Inox added three new properties with 13 screens in Q3’FY22 at Aurus Mall, Guwahati, Prabhatam Grand Mall, Dhanbad and WorldMark, Gurugram. In all, CY2021 ended with the addition of 41 new screens. The company now operates 158 multiplexes with 667 screens in 70 cities across the country. Of the planned 41 screens in FY’22, 24 have been launched, while work on 17 screens is nearly 80 per cent complete.
Besides being net debt-free, the company has also managed to maintain liquidity of close to Rs 300 crore including undrawn limit of Rs 120 crore.
“Besides being resilient, we maintained an optimistic outlook during the adverse phase over the past eight quarters," said Inox Group director Siddharth Jain. "Thanks to our strong fundamentals, the spectacular content flow and above all, the infinite passion for cinema prevailing in our country, we have proudly witnessed the recovery happening.”
“With the addition of 41 new screens, the highest in the industry in CY2021, we have shown that adversities could not dent our passion. Enlightened with lessons from the past, our path ahead will be underlined by innovation and rigor. We will certainly gain strength from our excellent liquidity levels and a zero net debt position,” he further added.
