Inox posts net loss of Rs 40 cr in Q3

Cinema exhibition chain Inox Leisure, which is in the process of merging with PVR, has widened its net loss for the quarter ending December 31 2022 to Rs 40.42 crore compared to Rs 1.3 crore in the corresponding quarter of the previous fiscal. Revenue has zoomed 74% to Rs 516 crore from Rs 296 crore while expenses jumped 63% to Rs 493 crore as against Rs 303 crore.

The company has also reported the highest-ever quarterly Average Ticket Price (ATP) and Spends Per Head (SPH) of Rs 230 and Rs 106, respectively.

During the quarter, Inox received footfalls of 15.3 million people which translated to an occupancy rate of 23% on the back of blockbuster films like Avatar: The Way of Water, Kantara, Ponniyin Selvan: Part 1 and Drishyam 2.