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India's total box office collections grew 20% year-on-year in Q1 FY27, with broad-based growth across metros, Tier 2 and Tier 3 markets and across languages. PVR INOX welcomed 36.6 million guests, up 8% year-on-year, while ATP rose 8% to INR 273 and SPH increased 9% to INR 161.
Revenues grew 12% year-on-year to INR 1,642 crores, EBITDA nearly doubled to INR 230 crores, while PAT stood at INR 71 crores against a loss of INR 34 crores in Q1 last year.
The Print Times
MR. AJAY KUMAR BIJLI – MANAGING DIRECTOR – PVR INOX LIMITED, attended the Q1 FY27 earnings conference call and said, “The earnings presentation and results were uploaded to our website and the stock exchanges yesterday, and I hope you've had a chance to review them.
Q1 FY '27 was a strong start to the year. India's total box office collections grew 20% year-on-year this quarter with broad-based growth across metros as well as Tier 2 and Tier 3 markets across a wider set of successful and mid-scale films and across languages.
The strength we are seeing in India is also visible globally. North American box office is running 14% ahead of last year at $4.8 billion for the first half of 2026. Its second best first half performance since 2019, reaffirming that theatrical first remains the release model of choice for filmmakers everywhere.
The quarter saw strong performances across languages, Hindi Cinema held its ground with titles like Bhoot Bangla, Cocktail 2 and Main Vaapas Aaunga, while it was regional, Hollywood content that drove the outperformance. Hollywood found success from non-franchise titles such as Project Hail Mary, Michael and Obsession.
Regional cinema delivered multifold growth on the back of compelling local content such as Raja Shivaji in Marathi, Drishyam 3 in Malayalam and Karuppu in Tamil, amongst others.
Our own performance mirrored this momentum. We welcomed 36.6 million guests during the quarter, up 8% year-on-year.
Equally encouraging is that guests are spending more with us on every visit with ATP touching INR 273, which is up 8% and SPH at INR 161, up 9%. When footfalls and per guest spends rise together, it reflects the underlying strength of the cinema going habit and of our premium offering.
This translated into a strong financial performance during the quarter. On an Ind AS 116 adjusted basis, revenues grew 12% year-on-year to INR 1,642 crores, while EBITDA nearly doubled to INR 230 crores at a 14% margin. This margin expansion reflects the benefit of operating leverage and the cost discipline we have sustained for several years.
PAT came in at INR 71 crores against a loss of INR 34 crores in Q1 last year.
The standout achievement this quarter is on the balance sheet. 3 years of sustained free cash flow generation and disciplined capital allocation have taken us to a net cash position of INR 80 crores as of June 30, 2026. This gives us a complete strategic flexibility. We can now fund our growth from our own cash inflows, continue on our capital light path and do so without the weight of leverage on our balance sheet.
On the growth front, we remain on track to open around 100 screens over the course of the year through a combination of our lease and capital-light models.
Looking ahead, the slate for the remainder of the fiscal gives us real confidence. Hindi Cinema has some of its biggest titles lined up, Ramayana Part 1, King and Love and War among others.
Regional Cinema continues to deliver exciting content with titles like Jana Nayagan, Toxic and Jailer 2. Hollywood brings major tentpoles, including Avengers: Doomsday, Spider-Man: Brand New Day and Dune: Part Three, several of which will release in our premium large screen formats.
The breadth of this lineup across languages, genres and budgets is exactly the kind of slate that plays to the strength of our network.
Beyond the films, we continue to build PVR INOX into India's leading out-of-home entertainment destination. Recent live streaming of the IPL and the FIFA World Cup 2026 drew a fabulous response across our network, reaffirming that audiences want to experience marquee sporting moments together on the big screen.
This sits alongside our alternate content programming, streaming concerts, live events and curated rereleases, along with premiumization of the in-cinema experience and an expanding food and beverage ecosystem.
The vision is to use our screens, locations and audience trust to be present in more moments of people's leisure time, not just when a big film releases.
We enter the rest of FY '27 with the strongest balance sheet in our history, a diverse content slate ahead of us, a strong pipeline of new screen openings and an industry whose growth is broader-based than there has been in years.
We are confident of building on this momentum.”
