Multiplex chain PVR INOX returned to profitability in the fourth quarter of FY26, reporting a consolidated net profit of Rs 187 crore on Monday, compared with a loss of Rs 125 crore in the corresponding quarter last year, as per the company’s filing with the exchanges. Revenue from operations rose 26% year-on-year to Rs 1,547 crore in the March quarter, up from Rs 1,230 crore reported a year earlier.

For the full year FY26, the company posted a consolidated net profit of Rs 333 crore, compared to a loss of Rs 281 crore in FY25, a turnaround of over Rs 614 crore. Full-year consolidated revenue from operations came in at Rs 6,646 crore, up from Rs 5,700 crore in FY25.

Costs under control

As per the filing, total consolidated expenses for the full year grew just 4.5% to Rs 6,554 crore versus Rs 6,229 crore in FY25, even as revenues grew over 16%. Finance costs fell to Rs 733 crore in FY26 from Rs 809 crore a year ago, as the company steadily paid down debt.

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The filing further noted that the consolidated numbers include a significant one-time gain from the sale of the company’s popcorn and food ingredients subsidiary, Zea Maize. PVR Inox disposed of its entire 93.27% stake for Rs 222 crore (net of expenses), with the deal closing on January 29, 2026. The net assets of the subsidiary at the time of sale were valued at Rs 26.9 crore, resulting in a gain of Rs 195 crore, disclosed as an exceptional item under discontinued operations.

Labour code charge hits earnings

On the other side of the ledger, the company took a one-time hit of Rs 40.5 crore related to four new Labour Codes notified by the Government of India on November 21, 2025, which consolidate 29 existing labour laws. 

The company said it “continues to monitor the finalisation of Central/State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect as and when such clarifications are issued/rules are notified.”

An additional Rs 7.8 crore was written off on capital work-in-progress for a property under development “on account of dispute arising with the landlord,” the filing stated.

Segment performance

The movie exhibition segment reported a profit of Rs 253.6 crore in FY26, against a loss of Rs 376.7 crore in FY25. The movie production and distribution segment contributed a profit of Rs 21.6 crore, up from Rs 18.5 crore in the prior year. Total segment assets in the movie exhibition business stood at Rs 14,732.1 crore at March 31, 2026, as per the filing.

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Debt falls sharply

PVR Inox’s long-term borrowings more than halved to Rs 459 crore in the March quarter from Rs 920 crore a year ago. Total borrowings, current and non-current combined, stood at Rs 759 crore, down from Rs 1,491 crore in FY25. Cash and cash equivalents improved to Rs 588 crore from Rs 523 crore at the end of FY25.

Managing Director Ajay Kumar Bijli, Executive Director Sanjeev Kumar, and Chief Financial Officer Gaurav Sharma are scheduled to host an analyst and investor call at 4:00 PM IST on Monday.