Hindi
Inox reports 2Q loss of Rs 22 crore
Mumbai: Hit by the poor performance of Bollywood, multiplex operator Inox Leisure has reported a second quarter 2023 fiscal loss of Rs 22 crore compared with a profit after tax of Rs 51 crore in the same period of the 2020 fiscal. When compared to the same period in the 2020 fiscal, Ebitda (earnings before interest, taxes, depreciation, and amortisation) fell by 97 percent to three crore rupees.
Revenue dropped by 27 per cent to Rs 381 crore. While the spending per head went up by 29 per cent, the number of footfalls went down by 39 per cent. Occupancy was down by 13 per cent. The average ticket price rose by 10 per cent. Inox said that the 2021 and 2022 fiscals were hit by the pandemic, and therefore it has taken the 2020 fiscal as a comparison.
Inox had a net profit of Rs 57.09 crore in the first quarter of the 2023 fiscal. Revenue from operations was Rs 582.26 crore in the first quarter of the 2023 fiscal.
For the first half of the 2023 fiscal, profit after tax declined by 43 per cent to Rs 53 crore compared to the same period in the 2020 fiscal. Ebitda fell by 33 per cent to Rs 134 crore. Revenue fell marginally by five per cent to Rs 970 crore.
The company said that it expects a great turnaround in the business going forward thanks to a content lineup in the upcoming quarters with releases like Ram Setu, Thank God, Drishyam 2, Bhedia, Phone Bhoot, Cirkus, Black Adam, Black Panther: Wakanda Forever, and Avatar: The Way of Water, complimented with consumer-centric innovations. The company added 30 screens in the first half of the fiscal, which it said was the highest screen addition in the industry. The company added two new properties with 13 screens in the second quarter; a 10-screen Inox Megaplex at Emerald Mall, Lucknow and a three-screen multiplex in Srinagar. Inox revived cinema in Kashmir after a gap of 32 years with the launch of the first multiplex in Srinagar. The three-screen cinema brings the contemporary giant-screen movie watching experience back to the region.
Furthermore, the company plans to add 11 properties and 47 screens in FY23.
The company reported its best ever quarterly SPH, which was largely driven by the rigorous efforts around F&B. Critical additions to the menu, introduction of seasonal specialties, timely and result-oriented marketing initiatives, interactive culinary sessions and workshops and numerous process innovations have led to a solid recovery on the F&B revenues.
Inox Leisure director Siddharth Jain said, “Pandemic has taught us to remain battle-fit and come up with answers to difficult situations. The second quarter of FY23 was impacted by the inconsistency in the content value chain, proving the importance of great quality content yet again. We are delighted with our promising performance on the F&B front, with our highest ever quarterly spend per head. Our foray into Kashmir with the region’s first multiplex marked the revival of cinemas in the valley, and we are quite upbeat about this historic launch, which underlines our desire to entertain India across its length and breadth. The spectacular content pipeline, the festive fervour and our consistent rigour will certainly mark a celebratory third quarter for us.”
Hindi
Zee5 and Applause Entertainment team up for whodunnit ‘Everybody Loves Sohrab Handa’
Rajat Kapoor directs star-studded murder mystery streaming from 10 April.
MUMBAI: Zee5 is serving up another killer collaboration and this time, the murder mystery comes with a generous side of dark humour and family dysfunction. The streaming platform has partnered with Applause Entertainment and Mithya Talkies to bring Everybody Loves Sohrab Handa, a fresh, twisted whodunnit written and directed by acclaimed filmmaker and actor Rajat Kapoor. The film will stream exclusively on Hindi Zee5 from 10 April.
The movie reimagines the classic murder mystery genre with a contemporary, darkly comic edge. It revolves around a group of friends and family who smile, drink, and celebrate together until the silence snaps and long-buried secrets spill out. The stellar ensemble cast includes Vinay Pathak, Ranvir Shorey, Waluscha De Sousa, Saurabh Shukla, Chandrachoor Rai, Neil Bhoopalam, Koel Purie, Palomi Ghosh, and Rajat Kapoor himself.
This latest offering continues the successful partnership between Zee5 and Applause Entertainment, which has previously delivered diverse hits such as Mithya, Bloody Brothers, and Jab Khuli Kitaab.
&TV Business Head of hindi Zee5 and chief channel officer Kaveri Das said, “Our collaboration with Applause Entertainment has consistently delivered distinct, high-impact storytelling. Everybody Loves Sohrab Handa is a natural progression, reinforcing our focus on genre-led content with a compelling whodunnit premise and a strong ensemble cast.”
Applause Entertainment business head for movies Sunil Chainani added, “This film adds yet another compelling layer to our slate with Rajat Kapoor’s unmistakable voice.”
Rajat Kapoor shared, “What interested me was not just the mechanics of a whodunnit, but the emotional violence that precedes physical violence. These are people who smile at each other, but there’s so much that is not said.”
The film promises razor-sharp writing, layered performances, and simmering tension, inviting viewers not just to solve the crime but to unravel the complex relationships at its heart.
If you love a good murder mystery served with wit and emotional depth, Everybody Loves Sohrab Handa looks set to be your next addictive watch. Mark your calendars, the whodunnit drops on Hindi Zee5 from 10 April.
