Higher footfalls drive up Inox net over 3-times to Rs 51 crore

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Published: October 23, 2019 7:58:16 PM

Inox has 144 properties with 598 screens acorss 68 cities.

inox, inox theatresInox added six properties with 27 screens during the first half in the metros and tier II cities

Leading multiplex operator Inox Leisure on Wednesday reported an over three-times jump in net income at Rs 51 crore for the quarter to September, driven by higher footfalls that rose 39 percent.

In the year-ago period its net stood at Rs 12 crore. Overall revenue rose 42 percent to Rs 524 crore during the quarter, driven by a 51 percent jump in box office revenue to Rs 311 crore during the quarter thanks to a number of successful movies.

The company saw more people walking into the theatres as there were many good releases. Overall footfalls rose to 190 lakh during the quarter, up 39 percent from 137 lakh a year ago, chief executive Alok Tandon told reporters.

The spending per head rose 7 percent to Rs 79 from Rs 73 a year ago, while revenue from food and beverages segment grew 48 percent to Rs 141 crore, and advertising revenue grew 5 percent to Rs 40 crore.

“Increase in footfalls is due to content was mainly due to the numerous movies doing extremely well at the box office. Mission Mangal, Super 30, The Lion King, Chhichhore, Saaho and Dream Girl were the top grossers,” he said.

Tandon said the company has planned a capital expenditure of around Rs 250 crore for FY20, of which Rs 95 crore has already been spent, and the rest will be spent during the second half.

Inox added six properties with 27 screens during the first half in the metros and tier II cities, he said. “In the second half, we will add nine more properties with 44 screens taking the total to 15 properties with 71 screens in FY20,” he added.

Currently, Inox has 144 properties with 598 screens acorss 68 cities. The Inox counter closed with a loss of 0.81 percent at Rs 354.20 on the BSE against the benchmark gaining a marginal 0.24 percent.

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