Shares of PVR Inox gained 5% in intraday trade on Monday after the country’s largest multiplex chain operator reported decline in its net loss during March quarter of FY25. The net loss of the company narrowed to ₹125.3 crore in the fourth quarter ended March 31, 2025, compared with loss of ₹129.7 crore in the same period last year.

For Q4 FY25, the revenue from operations increased marginally to ₹1,311.2 crore from ₹1,305.5 crore in the year ago period. At the operational level, Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 5.2% to ₹344.5 crore from ₹327.5 crore.

Early today, PVR Inox shares opened 1% higher at ₹930.35 on the BSE, in an otherwise strong broader market, with the BSE Sensex rallying over 2% in opening deals. Soon after the earnings report, the entertainment stock gained momentum and rallied as much as 5% to ₹967, while its market capitalisation rose to ₹9,410 crore. The counter touched its 52-week high of ₹1,748.25 on September 27, 2024, and a 52-week low of ₹825.65 on April 7, 2025.

At the current level, PVR Inox share price is up 17% from its 52-week low levels, while it has delivered a negative return of 27% in the calendar year 2025. The multiplex chain operator has lost 35% of its market value in the past months, while it fell over 27% in a year.

Loss balloons to ₹281 cr for FY25

For the full financial year 2024-25, PVR Inox, the merger between PVR Cinemas and INOX Leisure, clocked a net loss of ₹280.90 crore, which increased significantly from ₹32.7 crore loss reported in FY24. The revenue also dropped nearly 5% to ₹5,953.6 crore in FY25, from ₹6,263.7 crore in the previous fiscal. The EBITDA stood at ₹1,715.3 versus ₹1,966.7 in the financial year 2024.

The company, however, strengthened its financial position by reducing net debt from ₹1,430.4 crore as of March 31, 2023, to ₹952.2 crore as of March 31, 2025, a substantial reduction of ₹478.2 crore over the past 24 months (post-merger).

In line with its profitability and operational efficiency objectives, PVR Inox rationalised its screen portfolio — closing 72 screens and opening 77 new ones over the course of the year. 

"FY’25 was an year of transformation — defined by our renewed focus on innovation and agility. We evolved from being reactive to becoming resilient and emerging as a more agile, future ready organization, laying the groundwork for long-term sustainability and relevance in a rapidly changing entertainment landscape,” said Ajay Bijli, Managing Director, PVR Inox.

Gross box office revenue dips 9%

In a year marked by earnings volatility due to an uneven release calendar, the company's overall gross box office revenue dipped 9%. This was attributed to uneven release calendar, marked by inconsistent content availability across quarters, with both Bollywood and Hollywood movies underperforming.

As per the company, Hindi box office collections dropped 26%, primarily due to a 14% reduction in film releases, the absence of major superstar-led titles, and multiple postponements. In a similar trend, Hollywood revenues fell by 28%, reflecting the lingering effects of the previous year’s strike and a lackluster tentpole slate.

In contrast, Hindi-dubbed films saw a remarkable 153% surge, driven by nationwide hits like Pushpa 2 and Kalki, underscoring a growing audience appetite for large-scale pan-India narratives. Chhava emerged as the highest-grossing film in the 4th quarter, earning approximately ₹700 crore at the box office, followed by strong performances from Sankranthiki Vasthunam (Telugu), SkyForce, Empuraan (Malayalam), Daaku Maharaj (Telugu), Game Changer (Telugu), Dragon (Tamil), and Vidaamuyarchi (Tamil).

As per the company, March, in particular, was a subdued month, with Empuraan and Sikandar releasing towards the end of the month. While Empuraan with life time box office of ₹125 crore cemented its place among the highest-grossing Malayalam films of all time, Sikandar with life time collections of ₹130 crore underperformed relative to expectations, especially considering its high-profile cast and production scale.

FY26 expected to be high-octane with strong content lineup

Going ahead, FY’26 promises to be a high-octane period for the exhibition industry, supported by a formidable lineup of content across Hollywood, Bollywood, and Regional cinema, said PVR Inox in its earnings report.

A slew of eagerly awaited Hollywood tentpoles are set to hit the big screen, including Mission Impossible – The Final Reckoning, Formula 1, Jurassic World Rebirth, Fantastic Four: The First Steps, Superman, Predator: Badlands, Tron: Ares, Ballerina, Now You See Me 3, The Conjuring: Last Rites, Karate Kid: Legends, Mortal Kombat 2, Tron: Ares, Avatar: Fire and Ash, among others.

“These global franchises are expected to generate significant traction among urban audiences, reaffirming cinemas as the preferred destination for immersive movie experiences,” it said.

Back home, the Hindi film slate for the remaining fiscal is equally promising, headlined by commercial crowd-pullers such as Sitare Zameen Par, Housefull 5, War 2, Jolly LLB 3, The Delhi Files, Son of Sardar 2, Baaghi 4, Thama, Sunny Sanskari Ki Tulsi Kumari, Tere Ishk Mein, Aashique 3, Alpha, Border 2 and Love & War. 

The regional cinema is also expected to see landmark releases that will resonate deeply with their core markets. Films such as Kingdom, Thug Life, Kuberaa, Kannappa, Coolie, Nikka Zaildar 4, Sardaarji 3, Idli Kadai and Kantara: A Legend Chapter 1 reflect the growing scale and ambition of local-language productions.

With strong fan bases, superstars, and culturally rich storylines, these titles are poised to drive robust performance across the regional markets, the company said.