PVR Inox breaks box office collection record in August
PVR Inox, a premium cinema exhibitor, achieved record-breaking success in August 2023, reporting the highest-ever monthly admissions and box office revenue. They recorded a gross box office revenue of Rs 532 crore, with nearly 190 lakh footfalls during the month. This achievement was attributed to the popularity of Hindi films such as Gadar 2, OMG2, Dreamgirl 2, Tamil movie Jailer, along with July releases like Rocky aur Rani ki Prem Kahani and Hollywood’s Oppenheimer.
On August 15, India’s Independence Day, PVR Inox welcomed 13 lakh viewers, earning Rs 41.4 crore in a single day, surpassing previous records. The same weekend witnessed the highest-ever daily and weekend admissions, with 33.6 lakh guests and box office revenue exceeding Rs 100 crore.
PVR Inox’s success underscores the enduring appeal of cinematic experiences, emphasizing the importance of shared movie experiences. They also expressed optimism about a 6-8 percent growth in FY24, expecting revenue of approximately Rs 7,000 crore.
Despite impressive performance in August, the company reported a loss of Rs 82 crore in Q1 2023-24, compared to a profit of Rs 53 crore in the same period last year. However, their revenue increased by 33 percent YoY to Rs 1,305 crore in the April-to-June quarter.
PVR INOX operates 1,708 screens across 361 properties in 115 cities in India and Sri Lanka, positioning itself as a major player in the entertainment industry.
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