Excellent 42% growth in total revenue makes Q2-FY20 a historic quarter for INOX Leisure Ltd

image-Excellent growth in total revenue a historic quarter for INOX MediabriefINOX Leisure Ltd (INOX) reported financials for the second quarter ending 30th September 2019. The results were taken on record by the Board of Directors at a meeting held in Mumbai.

Building upon the practice of creating new benchmarks, INOX closed the 2nd Quarter of FY 2020 on a historic note with the highest ever Footfalls, Revenues, and EBITDA. Total Revenue rose to Rs 524 Cr with a substantial 42% growth, from Rs 369 Cr in the corresponding Quarter in FY19.

INOX also hosted the highest number of guests in a Quarter with a stupendous Footfall count of 19 Mn, up 39%. EBITDA more than doubled to Rs. 107 Cr with a 121% growth and PAT stood at an impressive Rs 51 Cr, up 327% from the previous year’s 2nd Quarter. The Board has declared an Interim Dividend of Rs 1 per equity share (10%).

Content continued to be the decisive force behind the remarkable performance of the Quarter, with numerous movies doing extremely well at the Box Office. Mission Mangal, Super 30, The Lion King, Chhichhore, Saaho, and Dream Girl were the top contributors. Batla House, Fast & Furious Presents Hobbs & Shaw and Spider-Man – Far From Home also made significant contributions towards the record ticket sales. While content played its part, INOX’s aggressive screen addition and efforts to take the cinema experience to new levels also added a gleam to the historic performance.

Highlights for Qtr 2 ended on 30th September 2019 (Year-on-Year basis)

  • Launched Megaplex –  World’s First Multiplex With Maximum Formats under one roof at Inorbit Mall Malad, Mumbai
  • 19 Mn tickets sold in the Quarter delivering a 39% growth in footfalls
  • Total revenues rise 42% to Rs. 524 Crores.
  • EBITDA more than doubled to Rs 107 Cr with a growth of 121% (excludes the impact of Ind AS 116)
  • Profit After Tax grows by a massive 327% to Rs. 51 Crores (excludes the impact of Ind AS 116)
  • F&B revenues grow by 48% at Rs.141 Cr
  • Spends Per Head show 7% growth
  • Advertising revenues stand at Rs. 40 Cr with a 5% growth
  • Board declares an Interim Dividend of Rs 1 per equity share (10%)
  • Addition of 27 new screens in the current FY takes the count to 598 screens at 144 units
  • Launched India’s first 270-degree multi-projection technology, ScreenX at Inorbit Mall Malad, Mumbai and Quest Mall, Kolkata

INOX’s emphasis on innovations and impeccable service in the F&B delivered historic revenue levels of Rs 141 Cr with a 48% growth.

The company has added 27 new screens in the FY20 so far, underlining Company’s expansion focus. INOX continued its focus on technology and formats with the roll-out of India’s first 270-degree multi-projection ScreenX auditorium at Inorbit Mall Malad, Mumbai and Quest Mall, Kolkata

Siddharth Jain, Director – INOX Group, said, “At INOX, setting new benchmarks is now a routine, thanks to our consistently sharp focus on luxury, service, and technology and our uncompromised desire to offer our patrons, nothing but the latest and the best! We are delighted with our remarkable consistency on all parameters, and we are sure about maintaining the momentum and focus on innovativeness.

Content once again proved why we term it as the ‘hero’. Thanks to the creators of such spellbinding movies, which keep inviting our guests to our properties, and allowing us to pamper them with our signature hospitality. With the launch of Megaplex, we are delighted to further our endeavor of developing experience-driven cinema destinations of global standards, and we will continue to do so. On behalf of Team INOX, I assure all our stakeholders that we will continue to break barriers and exceed all expectations.”

Making a global mark, INOX launched Megaplex – world’s first multiplex with maximum formats under one roof, at Inorbit Mall Malad. Besides being an architectural marvel spread over 60,000 Sq Ft, the 11-screen spectacle is also a destination for connoisseurs of good food with numerous F&B concepts and cuisines.

Summary of the Operational Results* 

Particulars Q2-FY20 Q2-FY19 Q1-FY20 YoY Growth %
Total Revenues (in Rs Cr) 524 369 496 42%
EBITDA (in Rs Cr) 107 49 92 121%
PAT (in Rs Cr) 51 12 41 327%
ATP (in Rs) 196 195 198 Maintained
SPH (in Rs) 79 73 81 7%
Box Office Revenue (in Rs Cr) 311 206 287 51%
F&B Revenues (in Rs  Cr) 141 95 132 48%
Advertising Revenues (in Rs Cr) 40 38 47 5%
Footfalls  (in Lacs) 190 137 173 39%

*Excludes impact of Ind AS 116

Your thoughts, please