Inox Leisure drops on reporting Q4 net loss of Rs 82 cr

Inox Leisure tumbled 6.89% to Rs 263.50 after the cinema chain operator reported consolidated net loss of Rs 82.15 crore in Q4 March 2020 as against net profit of Rs 48.08 crore in Q4 March 2019.

Consolidated net sales dropped 22.4% to Rs 371.58 crore in Q4 March 2020 over Rs 478.84 crore in Q4 March 2019, as the COVID-19 crisis impacted financial performance during the quarter. Consolidated pre-tax loss stood at Rs 20.61 crore in Q4 March 2020 as against a pre-tax gain of Rs 68.16 crore in Q4 March 2019. The Q4 earnings were released post market hours yesterday, 8 June 2020.

Siddharth Jain, Director - INOX Group said, "The advent of COVID-19 has left a serious mark on our 4th Quarter performance and will remain a cause of concern in the subsequent months as well. Our robust balance sheet would help us emerge stronger and faster from this pandemic situation and deliver a remarkable turnaround, delighting all our stakeholders."

Consolidated net profit fell 88.76% to Rs 15.01 crore on 12.13% increase in net sales to Rs 1,897.44 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19).

SPH or spends per head showed a growth of 8% on an annual basis owing to INOX's efforts to transform cinema into a complete family destination offering a wholesome dining experience. Footfalls at INOX properties rose 6% in FY20 with content playing a significant role. The company added 58 screens in the entire financial year.

Inox Leisure is engaged in operating multiplex cinema theatres. The firm is engaged in the business of film exhibition. The company operates through theatrical exhibition segment. The firm is engaged in booking, providing a range of movies, reviewing movie schedules and offering a range of cinema food.

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