Multiplex operator PVR Inox reported a net loss of Rs 125.3 crore for the fourth quarter (Q4) of FY25, a sharp reversal from a profit of Rs 35.5 crore in the previous quarter (Q3). The decline was due to a significant drop in revenue and overall income, with the company's revenue from operations falling by 27.3% to Rs 1,249.8 crore in Q4. According to the company, FY25 was a challenging year for the box office, primarily due to an inconsistent film release calendar and underwhelming content.
The company attributed the decline to a 14% reduction in film releases, lack of major star-driven blockbusters, and multiple postponements. Despite the challenges, PVR Inox's Managing Director Ajay Bijli described FY25 as a 'year of transformation' for the company, marked by a renewed focus on innovation and agility. The company shifted from being reactive to becoming resilient, emerging as a more agile and future-ready organization.
Despite the fall in revenue and profits, PVR Inox managed to reduce its expenses during the quarter. Total expenses came down by 13.67% to Rs 1,478.7 crore in Q4, indicating some cost-control measures by the company. The company's profit before tax turned into a loss of Rs 167.7 crore in Q4, compared to a profit of Rs 46.2 crore in the previous quarter.
The net loss attributed to the owners of the company stood at Rs 125 crore in Q4, compared to a profit of Rs 35.9 crore in the previous quarter. Despite the challenges faced by the company, PVR Inox is working towards emerging as a more agile and future-ready organization, with a focus on innovation and cost control.