Three-fold jump in Inox net

Multiplex firm Inox Leisure saw a three-fold jump in consolidated net profit at Rs 20.5 crore for the September quarter versus a year ago. This was on hit movies. Revenue from operations grew 33 per cent for the quarter to touch Rs 355 crore versus Rs 266 crore a year ago. Despite a four per cent year-on-year rise in ticket prices for the quarter, occupancy was at 32 per cent versus 26 per cent a year ago.

For comparable properties, the occupancy rate was even higher at 33 per cent, they said. The higher occupancy rate for the quarter ensured that the spend per head on food & beverages also grew. It was five per cent more than last year, when the spend per head was Rs 53.

Unlike print and television, multiplex chains derive bulk of their revenues from food & beverages rather than advertising.

For Inox, 75 per cent of its revenues for the quarter under review came from food & beverages versus 74 per cent last year. Ad revenues per screen, however, were up 7 per cent versus the year ago period.

The stock hit a 52-week high of Rs 276 on the BSE in early morning trade before the announcements of Q2 results. It closed trade, however, down 9.19 per cent to touch Rs 244.65 per unit on the BSE as investors rushed to book profits.