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ICICI Direct Report
Inox Leisure Ltd. posted a washout quarter owing to weak box office recovery. The company reported box office revenue of Rs 209 crore (down ~41% QoQ) with footfalls down ~37% QoQ at 11.6 million and average ticket price at Rs 215, down ~6% QoQ owing to promotional discounts during the quarter and content performance.
Ad revenues was at Rs 26 crore, down 13% QoQ and at ~65% of pre Covid levels. The company reported Rs 110 crore of food and beverages revenues, down 33% QoQ with weak offtake of F&B due to low footfall, with spends per head at Rs 102 was up 6% QoQ.
Ebitda loss (excluding-India-Accounting Standard 116) was at Rs 3 given the tepid box office performance.
On reported basis, Ebitda was at Rs 84.9 crore (22.7% margin). Consequently, reported loss was at Rs 40.4 crore. Inox Leisure reported net loss (without impact of Ind-AS 116) at Rs 22 crore.
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