INOX Leisure net loss narrows to Rs 28 crore in Q4 FY22

INOX Leisure reported a consolidated net loss of Rs 28.17 crore in Q4 FY22 as against a net loss of Rs 93.69 crore in Q4 FY21.

Net sales surged 251.3% to Rs 317.72 crore in the fourth quarter from Rs 90.44 crore in the corresponding period last year.

Total expenditure increased by 102.7% YoY to Rs 219.40 crore in Q4 FY22.

The company reported a pre-tax loss of Rs 31.83 crore in Q4 FY22 as against a pre-tax loss of Rs 121.04 crore in Q4 FY21.

INOX Leisure recorded a net loss of Rs 239.43 crore in FY22 as against a net loss of Rs 337.66 crore in FY21. Net sales in FY22 were at Rs 683.94 crore as compared with Rs 105.93 crore in FY21, up 545.7% YoY.

The multiplex chain operator said that the company received a tremendous response in Q4 FY22. With 11 million guests visiting INOX cinemas across the country, the quarter saw an occupancy rate of 24%. Average ticket price (ATP) stood at Rs 218 while spends per head (SPH) was Rs 86 in the quarter ended on 31 March 2022.

The company plans to add a total of 77 screens in FY23, out of which, 6 screens have already been added.

On 27 March 2022, the board of INOX Leisure approved the draft scheme of merger of INOX Leisure with PVR, subject to necessary approvals.

"The draft scheme of the Amalgamation of INOX Leisure Limited with PVR Limited was filed with BSE and NSE on 30th March 2022 and approvals are awaited from Stock Exchanges/SEBI, the company said in a statement.

Siddharth Jain, director, INOX Leisure, said: With the 'worst' behind us, and the 'best' on the anvil, we are looking forward to FY23 with a lot of excitement and preparedness to make sure that we continue to delight all our stakeholders and resume our profitability story.

INOX Leisure is amongst India's largest multiplex chains with 161 multiplexes and 681 screens across 72 cities.

The scrip fell 2.12% to end at Rs 491.60 on the BSE on Monday.

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