INOX adds 85 screens in FY19, Q4 net zooms

Inox Leisure, India’s second largest multiplex chain, said on Monday it has added 85 new screens organically in FY19, the highest in the category, while remaining debt free at the net level.

The company also said it has recorded its highest ever growth in the final quarter as well as financial year ended March 31st, 2019.

In the quarter ended March 31, Inox posted PAT of Rs 44 crore, a 992% jump over PAT of Rs 4 crore in the corresponding quarter of the previous fiscal. This excludes tax write back of Rs 54 crore in FY18 and Rs 5 crore in the quarter under review.

Inox’ revenue from operations jumped 48% to Rs 479 crore (from Rs 324 crore), while operating profit (Ebitda) was up 122% to Rs 97 crore versus Rs 44 crore the year ago. EBITDA margin also improved to 20% from 14% the year ago.

Advertising revenues (Rs 43 crore) and spends per head (Rs 73) also witnessed a 29% and 9% jump, respectively, during the quarter.

Siddharth Jain, director, Inox Group said that this was the company’s “best-ever financial year” with a “best-ever” quarter. “Both, FY19 and Q4 have shown an unprecedented growth on multiple dimensions, like operational revenues, earnings, advertising and F&B, strongly underlining our commitment towards offering an unmatched experience to our guests,” Jain said.

For the full year, PAT (excluding tax write back) was up 112% to Rs 129 crore from Rs 61 crore the previous fiscal, while revenue jumped 26% to Rs 1.692 crore (from Rs 1,348 crore).

Inox’s Ebitda was up 47% to Rs 309 crore, compared to Rs 210 crore in the year ago period, while EBITDA margin improved to 18% from 16% year ago.

Advertising revenues jumped 27% to Rs 176 crore, while spends per head went up 11% to Rs 74.

“We have seen fantastic advertising growth, quarter on quarter for eight consecutive quarters because of our go to market strategy. We are keeping consumer experience at the centre of all what we are doing, which includes best of the technologies in video and sound, food options, luxuries properties etc.,” said Alok Tandon, CEO, Inox Leisure. “All efforts are towards de-couching viewer and bringing him to the cinema theatre for the big screen experience.”

Inox added 85 screens to end the fiscal with 141 multiplexes and 583 screens in 67 cities. It has around 850 more screens signed, out of which 80-90 screens will be opened in the current financial year.