Box Populi
PVR INOX swings to FY26 profit as box office rebounds
After a few years of cliffhangers, India’s biggest multiplex chain may finally have found its comeback script.
MUMBAI: PVR INOX returned to profit in FY26 as stronger box office collections, rising food and beverage sales and a steadier film pipeline helped the multiplex giant script a sharper recovery after a difficult previous year. The company reported revenue from operations of Rs 6,391.2 crore for the year ended March 31, 2026, up from Rs 5,442.4 crore in FY25. Total income climbed to Rs 6,568.2 crore from Rs 5,606.1 crore a year earlier.
Profit before tax stood at Rs 333.4 crore for FY26, reversing a pre-tax loss of Rs 375.1 crore in FY25. The turnaround was further aided by an exceptional gain of Rs 80 crore during the year.
For the March quarter, however, the performance remained uneven.
PVR INOX posted quarterly revenue from operations of Rs 1,487 crore, compared with Rs 1,176.6 crore in the corresponding quarter last year. Total income for the quarter rose to Rs 1,563 crore from Rs 1,233.3 crore.
Despite the revenue growth, profit before tax for the quarter came in at Rs 145.2 crore, helped by an exceptional gain of Rs 122.3 crore. In the same quarter last year, the company had reported a loss before tax of Rs 166.5 crore.
Theatres may have filled up again, but costs continued to command a starring role.
Movie exhibition expenses rose to Rs 1,590.7 crore during FY26 from Rs 1,311.1 crore a year ago, while food and beverage consumption costs increased to Rs 465.6 crore from Rs 411.5 crore. Employee benefit expenses also climbed to Rs 695.2 crore.
Finance costs, however, eased slightly to Rs 730.1 crore from Rs 806 crore, offering some relief to the company’s balance sheet after years weighed down by debt and post-merger integration costs.
PVR INOX also spent Rs 1,576.9 crore on other expenses during the year, marginally higher than the Rs 1,521.9 crore reported in FY25, underlining how operating a modern multiplex business remains an expensive production even when audiences return.
The recovery comes as India’s theatrical business slowly regains rhythm after a volatile stretch marked by pandemic disruptions, Hollywood strikes and inconsistent Hindi film performance. A stronger slate of regional films, big-ticket spectacles and improving cinema footfalls helped drive momentum through FY26.
For PVR INOX, the credits may not be rolling just yet but after several tough quarters, the company appears to have finally stepped out of the interval and back into the spotlight.
