India’s PVR INOX reported a fourth-quarter profit on Monday, helped by higher ticket prices and increased spending on food and beverages.
- The multiplex operator PVR Inox posted a profit of 1.87 billion rupees ($19.64 million) for the quarter ended March 31, from a net loss of 1.25 billion rupees a year earlier.
- Profit margins expanded to 11.5% in the quarter from a negative 9.7% a year ago, helped by higher ticket prices and a rise in food and beverage spends.
- Revenue from operations rose 25.8% to 15.47 billion rupees, driven primarily by higher per-customer spending.
- Advertising income rose about 15%, supported by improved occupancy and advertiser demand.
- Average ticket price was up 22% year-on-year to 315 rupees, while average food and beverage spend per head rose 32% to 165 rupees.
- Footfalls rose marginally to 31 million from 30.5 million a year earlier.
- Shares of PVR INOX closed down about 4.5%, having gained about 4% so far this year.