Dhurandhar 2 helps PVR swing to profit in Q4, rev up 26%

PVR Inox returned to profit in Q4FY26 with a net profit of Rs 186.7 crore, driven by strong box office performance from films such as Dhurandhar – The Revenge, Border 2 and Project Hail Mary. Revenue rose nearly 26% year-on-year while Ebitda margins improved sharply.

PVR Inox reported record annual revenue and profit for FY26 as blockbuster releases, higher ticket prices and stronger food and beverage spending boosted earnings. The multiplex operator expects FY27 growth to be supported by a strong Hindi and regional film pipeline.

PVR INOX, the country’s largest multiplex operator, swung into the black in the March quarter (Q4FY26), aided by the success of films such as Dhurandhar – The Revenge, Border 2, and Project Hail Mary. The company on Monday reported a consolidated net profit of Rs 186.7 crore, a turnaround from a net loss of Rs 125 crore in Q4 FY25. The company’s revenue rose 25.8% year-on-year to Rs 1,547.3 crore in Q4.

For the quarter ended March, PVR Inox also reported a 56% year-on-year rise in Ebitda to Rs 452 crore, compared to Rs 289.4 crore in the same period last year, with margins improving to 29.2% in the period from 23.5% last year.

Sequentially, PVR’s net profit surged by 95% compared to Rs 96 crore reported in Q3FY26. However, revenue experienced a 16% quarter-on-quarter decline, with topline at Rs 1,850 crore in the October-December period, owing to the festive period.

For the full financial year of FY26, PVR Inox reported its highest-ever annual revenue, Ebitda and net profit at Rs 6,742.6 crore, Rs 968 crore and Rs 386.8 crore, respectively. Net debt came down to levels of Rs 161.9 crore in FY26, down from over Rs 1,430 crore at the time of the PVR-Inox merger in FY23.

In a conversation with FE, Sanjeev Kumar Bijli, executive director, PVR Inox said that the operating performance was supported by strong cost control measures such as reducing capex intensity and increasing footfalls via marketing initiatives. While admissions were up 2% year-on-year to 31 million in Q4, average ticket price inched up 22% year-on-year to Rs 315 and spend per head was up 32% year-on-year to Rs 165, its results showed.

“We remain optimistic about FY27, supported by a strong and diverse content pipeline. The Hindi slate includes major titles such as Ramayana Part 1, King, Love and War, Drishyam 3, and Dhamaal 4, among others. Regional cinema is expected to remain a key growth driver, led by big-ticket releases like Jailer 2 and Spirit,” Bijli said.

This article was first uploaded on May eleven, twenty twenty-six, at nine minutes past eight in the night.