PVR remains an outlier amid slowing consumption with strong Q2 results

Highest-ever footfalls with good content leads to 35-37 per cent growth in topline and net profit

PVR’s strong September quarter (Q2) results indicate that multiplexes remain outliers amid the slowing consumption, a trend likely to continue in the near term. 

Improved footfall and occupancy — which points towards customers’ willingness to spend on entertainment — provided a strong impetus to PVR’s top line. Consolidated top line grew 37.3 per cent year-on-year (YoY) to Rs 973.2 crore, significantly beating the Bloomberg consensus of Rs 894 crore.

In Q2, while customer footfall increased by 25 per cent YoY, occupancy rate rose to 37.8 per cent from 34.6 per cent last year. Strong content (films such as Super 30, Mission Mangal,