PVR INOX Q1 FY27 Results: ₹1,622 Cr Revenue, PAT ₹56 Cr

Key takeaway from PVR INOX’s Q1 FY27 print

PVR INOX reported a stronger first quarter of FY27, with revenue from operations rising to ₹1,622.2 crore and the company returning to profitability. The results, reported on 23 July, were supported by improved box office collections and higher footfalls across its cinema network. On a year-on-year basis, revenue grew 11.91%, while operating profitability improved more sharply, reflected in a 27.26% rise in EBITDA. The quarter also marked a turnaround in profit after tax (PAT), swinging to ₹56.5 crore from a loss in the same quarter last year.

At the same time, the company’s PAT declined sharply compared with the previous quarter, indicating that Q4 FY26 had a higher base. Overall, the quarter reinforced that performance for cinema exhibition remains closely tied to the theatrical content pipeline and consumer footfall trends. The company’s segment reporting shows movie exhibition continuing as the primary revenue driver.

Revenue growth: steady YoY, modest QoQ

Revenue from operations in Q1 FY27 came in at ₹1,622.2 crore, up from ₹1,449.6 crore in Q1 FY26. That translates to an 11.91% year-on-year increase. Compared with Q4 FY26 revenue of ₹1,547.3 crore, growth was 4.84% quarter-on-quarter.

Total revenue for the quarter was ₹1,648.3 crore, rising 11.24% year-on-year from ₹1,481.7 crore in Q1 FY26. Sequentially, total revenue was up 1.50% from ₹1,623.9 crore in Q4 FY26. The difference between revenue from operations and total revenue indicates the presence of other income or adjustments captured in total revenue, as reflected in the company’s published financials.

The reported growth was framed by the company around stronger box office collections and higher footfalls. While the company did not provide footfall numbers in the provided data, the direction of change was highlighted as a key driver behind the quarter’s improvement.

EBITDA rises 27% YoY and margins expand

EBITDA increased to ₹554.6 crore in Q1 FY27 from ₹435.8 crore in Q1 FY26, a year-on-year rise of 27.26%. On a quarter-on-quarter basis, EBITDA grew 4.96% from ₹528.4 crore in Q4 FY26.

EBITDA margin stood at 34.19% in Q1 FY27, compared with 30.06% in Q1 FY26. That is an expansion of 412 basis points year-on-year. Versus Q4 FY26, the margin was broadly flat, improving by 4 basis points from 34.15%.

Margin movement is significant for exhibition businesses because it typically reflects the combined impact of occupancy, ticket pricing, food and beverage contribution, and operating leverage. In this quarter’s disclosure, the margin expansion is most clearly visible in the year-on-year comparison.

PAT swings to profit, but drops sharply from Q4

PVR INOX reported PAT of ₹56.5 crore in Q1 FY27, reversing a loss of ₹54.5 crore in Q1 FY26. The company therefore returned to profitability on a year-on-year basis. PAT margin improved to 3.48% from -3.76% in Q1 FY26.

However, PAT moderated from the previous quarter. Q4 FY26 PAT was ₹186.4 crore, and Q1 FY27 PAT declined 69.69% quarter-on-quarter. PAT margin also fell to 3.48% from 12.05% in Q4 FY26.

Diluted EPS followed the same trend, turning positive at ₹5.73 in Q1 FY27 compared with a negative ₹5.51 in Q1 FY26, but declining from ₹18.95 in Q4 FY26.

Quarterly performance snapshot

Source: PVR INOX Limited Q1 FY27 Financial Results.

Segment mix: movie exhibition remains the core engine

The company’s revenue continued to be driven primarily by its movie exhibition business. Segment reporting shows movie exhibition revenue at ₹1,614.1 crore in Q1 FY27, up 14.26% year-on-year from ₹1,412.7 crore. Sequentially, it increased 2.70% from ₹1,571.7 crore in Q4 FY26.

In contrast, the movie production and distribution segment reported revenue of ₹59.2 crore in Q1 FY27, down sharply both year-on-year and quarter-on-quarter. It fell 51.79% year-on-year from ₹122.8 crore in Q1 FY26 and 21.69% quarter-on-quarter from ₹75.6 crore in Q4 FY26.

Inter-segment eliminations were reported at ₹25.0 crore (negative) in Q1 FY27 versus ₹23.4 crore (negative) in Q4 FY26 and ₹53.8 crore (negative) in Q1 FY26.

Source: PVR INOX Limited Q1 FY27 Financial Results.

Stock check: price up on result day, flat over longer windows

PVR INOX shares were trading at ₹1,017.80, up 2.53%, on 23 July 2026. Over a longer window, the stock was down 0.13% year-to-date and down 0.41% over one year from 23 July 2025 to 23 July 2026, based on the figures provided.

This pattern suggests the session reaction was positive, while the one-year and YTD moves remained broadly flat. The quarterly result also contained a notable contrast: a return to profit year-on-year, but a sharp decline from Q4 FY26 PAT levels.

Wider media and entertainment context: a small-cap contrast

The provided dataset also includes financial and price points for V R Films & Studios Ltd, a company operating in dubbing, film imports, and distribution. As of 28 June 2026, V R Films & Studios’ share price was ₹13.8.

For FY26, V R Films & Studios reported a net profit of ₹0.9662 crore, reversing a net loss of ₹3.7444 crore in FY25. Another disclosed snapshot states that for FY2026-2027, revenue reached ₹12.08 crore and profit touched ₹0.96 crore. A separate TTM snapshot shows revenue of about ₹12 crore (standalone) and net profit of ₹0.97 crore (standalone), along with EPS of ₹0.88.

While the business models differ, the contrast is useful for readers tracking the broader film value chain. PVR INOX’s quarter primarily reflects theatrical exhibition dynamics, while smaller distribution-focused companies show performance through a different revenue and cost structure.

Why the quarter matters for investors tracking exhibition

The Q1 FY27 print shows that PVR INOX’s operating performance strengthened meaningfully versus last year, with EBITDA growth outpacing revenue growth and margins expanding. The swing to a positive PAT is also a clear year-on-year marker, especially given the prior-year loss.

But the quarter also highlights volatility when compared with the immediately preceding quarter. PAT and EPS fell sharply from Q4 FY26, even as revenue and EBITDA rose modestly. For investors, this reinforces the need to look beyond a single headline number and evaluate both year-on-year trend and quarter-on-quarter base effects.

What to monitor next

The company has attributed performance to improved box office collections and higher footfalls, so future quarters will likely remain sensitive to the film release pipeline and audience turnout. Segment trends also bear watching, particularly whether movie production and distribution revenue stabilises from the sharp declines reported.

For now, Q1 FY27 establishes a clearer year-on-year recovery profile: double-digit revenue growth, stronger operating margin, and a return to profitability.

Conclusion

PVR INOX’s Q1 FY27 results showed revenue from operations of ₹1,622.2 crore and PAT of ₹56.5 crore, supported by stronger box office collections and higher footfalls. EBITDA rose to ₹554.6 crore and margins expanded versus last year, while profit moderated sharply compared with Q4 FY26. The next set of results will help clarify whether the profitability turnaround sustains alongside the upcoming theatrical slate.