PVR INOX Shatters Records: Indian Box Office Surpasses Rs 4,000 Crore in Q2 for the First Time!
PVR INOX Limited has announced its highest-ever quarterly revenue, EBITDA, and profit after tax for the quarter ending September 30, 2026. The cinema chain’s impressive financial results were bolstered by strong theatrical performances and increased consumer spending. This marks a significant milestone for the company as it continues to thrive in the competitive entertainment landscape.
Record Financial Performance
For the second quarter of FY27, PVR INOX reported a revenue of Rs 21,327 million, approximately Rs 2,133 crore, on an Ind AS 116-adjusted basis. This represents a 17% increase from Rs 18,187 million in the same quarter last year. The adjusted EBITDA surged by 44% year-on-year to Rs 4,752 million, with the EBITDA margin improving to 22.3% from 18.1%. Additionally, profit after tax from continuing operations saw a remarkable increase of 111%, reaching Rs 2,733 million compared to Rs 1,296 million in Q2 FY26.
The cinema chain welcomed 46.3 million patrons during the quarter, marking a 4% year-on-year increase. Occupancy rates also improved to 30.4%, up from 28.7% in the previous year. The average ticket price rose by 14% to Rs 298, while average food and beverage spending per head also increased by 14% to Rs 153. Both ticketing and food and beverage revenues grew by 18% during this quarter.
Strong Theatrical Market
PVR INOX’s results come amid a robust quarter for the Indian theatrical market. According to estimates from Ormax Media and the company, India’s gross box office collections reached Rs 4,443 crore in Q2 FY27, reflecting a 23% year-on-year growth. This quarter marked a historic moment as the Indian box office crossed the Rs 4,000 crore mark for the first time in a single quarter. The first half of FY27 saw box office collections totaling Rs 7,618 crore, an increase of 22% year-on-year.
English-language films experienced particularly strong growth, with collections rising by 87% to Rs 1,024 crore. Notably, “Spider-Man: Brand New Day” became the highest-grossing English film in India, amassing Rs 608 crore. Christopher Nolan’s “The Odyssey” also performed well, collecting Rs 233 crore. Hindi box office collections, including dubbed films, grew by 12% year-on-year, with “Hanuman Ansh” earning Rs 351 crore and “Mirzapur: The Movie” bringing in Rs 267 crore.
Strategic Growth and Future Plans
PVR INOX generated Rs 6,035 million in free cash flow during the first half of FY27 and repaid Rs 2,586 million of debt. The company completed its first-ever Rs 3,000 million share buyback in September. Despite this buyback, PVR INOX’s net cash position stood at Rs 1,407 million as of September 30, compared to Rs 807 million at the end of June. The company’s board has approved a new Capital Allocation and Dividend Distribution Policy, focusing on investments in screens, premium formats, and technology.
As of September 30, PVR INOX operated 1,797 screens across 114 cities in India and Sri Lanka. The company opened 24 screens across six cinemas during the first half of FY27 while exiting 25 screens from less profitable locations. PVR INOX plans to add 90 to 100 screens during FY27, primarily in the second half of the financial year through capital-light models. The company also launched its first SMART Cinema in Muzaffarpur, Bihar, in September, with plans for two to three more such cinemas in the current financial year.
PVR INOX anticipates that its upcoming film slate will sustain theatrical momentum in the second half of the financial year. Major Hindi releases include “Ramayana: Part One” in November, Shah Rukh Khan’s “King” in December, followed by “Love & War” and “Golmaal 5” in the fourth quarter. The regional and pan-India lineup features Chiranjeevi’s “Kaaka” and Prabhas’ “Spirit,” along with Hollywood releases such as “The Hunger Games: Sunrise on the Reaping,” “Avengers: Doomsday,” “Dune: Part Three,” and “Jumanji: Open World.”
“Looking ahead, we remain firmly focused on growth, expanding our network through capital-light formats and taking cinema deeper into under-screened India with our new SMART Cinemas. With an exciting content pipeline, we are committed to delivering a compelling cinema experience and long-term shareholder value,” Bijli said.
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