PVR Inox (PVRL.NS), India’s largest multiplex operator, reported that its quarterly profit nearly tripled, fueled by a strong lineup of Bollywood releases and recent tax cuts that encouraged more moviegoers to visit cinemas.
The company’s revenues increased nearly 10% for the quarter ending December 31, driven by higher footfalls, increased ticket prices, and additional income from food and beverage sales. This growth outpaced a 2.5% rise in operating costs, highlighting a robust performance.
Footfall Surge Thanks to ‘Dhurandhar’
Cinema attendance grew nearly 9% year-on-year in the reported quarter, largely due to the Bollywood spy blockbuster ‘Dhurandhar’, which achieved record-breaking sales of 10 billion rupees ($110 million). The film’s success contributed to a 13% increase in gross box-office collections in 2025.
PVR Inox expects the upcoming sequel to ‘Dhurandhar’ to continue driving attendance from January to March. “Sequels now perform as strongly as the original films,” Executive Director Sanjeev Kumar Bijli told Reuters, noting the strong industry trend.
Positive Outlook for 2026
Bijli added that the current slate of films is strong, and January box-office response has been satisfactory. He projects box-office collections to grow 14%-15% in 2026, supported by both blockbuster releases and innovative multiplex strategies.
Since merging PVR and Inox in 2023, the company has worked to increase footfall by offering discounted tickets, screening older hit films, and converting some theaters into multi-purpose destinations featuring dining, gaming, and co-working facilities.
Profit Growth and Operational Performance
PVR Inox’s consolidated profit rose to 957 million rupees ($10.6 million) for the December quarter, up from 359 million rupees a year earlier. Profit margins expanded to 5%, compared with 2% in the same period last year.
The company also took a one-time charge of 446 million rupees related to India’s new labor laws. Meanwhile, average ticket prices and food & beverage spends per guest rose by around 4% each, and Bijli expects further growth of 4%-5% in F&B spends per head in the current quarter.
Recovering from Industry Challenges
The cinema sector is recovering from a prolonged slump, caused by weak urban spending, inconsistent blockbuster releases, and competition from streaming platforms like Netflix and Amazon Prime. PVR Inox’s proactive strategies are helping revive audience interest and expand its revenue streams.
