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PVR-Inox Returns to Profit After 6 Quarters With ₹10.55 Crore Profit in Q2 FY26

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India’s largest multiplex operator, PVR-Inox, has reported a net profit of ₹10.55 crore in Q2 FY26, marking its first profitable quarter after six consecutive quarters of losses. The recovery was powered by improved footfalls, a strong movie lineup, and better cost management.

The turnaround underscores the revival of India’s cinema industry after a prolonged slowdown caused by weak content performance and post-pandemic audience fatigue. moneycontrol


Financial Performance Highlights

MetricQ2 FY26Q2 FY25Change
Net Profit / (Loss)₹10.55 crore₹11.8 crore (loss)Reversal to profit
Revenue from Operations₹1,823 crore₹1,622 crore↑ 12.3% YoY
EBITDA₹384 crore₹296 crore↑ 29.6% YoY
Footfalls3.5 crore approx.2.8 crore↑ 25% YoY

The strong lineup of Bollywood, Hollywood, and regional releases — including “Bhool Bhulaiyaa 3,” “Kantara 2,” and “Deadpool & Wolverine” — contributed significantly to Q2 occupancy growth.


What Drove the Comeback

  1. Stronger Content Calendar
    The quarter saw a consistent flow of high-performing releases across multiple languages, drawing families and young audiences back to theaters.
  2. Improved Operational Efficiency
    PVR-Inox’s focus on cost optimization, efficient screen utilization, and F&B expansion helped boost margins.
  3. Enhanced F&B and Premium Experiences
    The company reported higher spends per head on food and beverages, along with growing demand for premium formats like IMAX, 4DX, and Gold Class.
  4. Regional Film Boom
    South Indian releases continued to dominate the domestic box office, contributing nearly 35% of total revenue.

CEO Commentary

Ajay Bijli, Managing Director of PVR-Inox, said the company’s turnaround “marks the beginning of a stable growth phase.”
He added that “a strong content pipeline for Q3 and the festive season is expected to sustain profitability.”


Challenges & Outlook

  • Content Volatility: Box office success remains highly content-driven. A weak quarter could again pressure margins.
  • OTT Competition: While footfalls have risen, OTT platforms continue to compete for audience attention.
  • Expansion Costs: The company plans to open 60 new screens this fiscal, which could impact short-term profitability.

Despite these challenges, analysts view the return to profit as a positive inflection point. With occupancy levels nearing pre-pandemic levels and new content releases ahead of Diwali, PVR-Inox is set for stronger financial performance in H2 FY26.


Conclusion

After six difficult quarters, PVR-Inox’s ₹10.55 crore profit in Q2 FY26 signals a solid recovery for India’s cinema exhibition sector. With improving content, higher footfalls, and cost control measures, the company appears poised for sustained profitability in the coming quarters.

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