Blockbuster third quarter for multiplexes
Back-to-back hits ensure rising revenues for multiplexes.
Mumbai, Jan. 29
The smiles are back on the faces of multiplex operators thanks to a buoyant third quarter. This has largely been propelled by a good line-up of movies and higher ticket prices.
Cinemax's net profit increased almost five times to Rs 10.59 crore (Rs 2.05 crore) for the period ending December 31, 2009. Revenue from operations was up 81 per cent to Rs 59.39crore (Rs 32.72 crore).
Inox more than doubled its profit to Rs 8.74 crore (Rs. 3.99 crore) while revenues jumped 29 per cent to Rs. 84.28 crore (Rs. 65.48 crore).
PVR, likewise, reported a higher profit of Rs 7.37 crore (Rs 4.5 crore); its income was up to Rs 114 crore (Rs 88.29 crore).
"The good line-up of movies, be it Hindi, English and regional languages, contributed significantly to our performance." said Mr. Deepak Asher, Director, Inox Leisure.
According to Mr Anil Arjun, Chief Executive Officer, Reliance MediaWorks, this quarter alone saw 16 big releases such as Wake up Sid, Azab Prem ki Ghazab Kahani, Paa and 3 Idiots along with Hollywood fare like Avatar, 2012 and New Moon which led to an increase in footfalls.
"During the first weekend of 3 Idiots, we recorded nine lakh customers across Big Cinemas," he said. The Anil Ambani-promoted multiplex chain has 509 screens across the globe.
Dearer tickets have helped boost revenue with most multiplex operators increasing prices twice by an average of Rs 25-100 during the quarter. Nearly 75 per cent of income comes from ticket sales while food and beverage sales and advertisements make up the rest. Operators are equally upbeat about this quarter with big ticket releases like My Name is Khan, Teen Paati and Kites.