PVR INOX Profit Soars 167% in Q3 FY26 on Record Box Office

Multiplex Giant Posts Strong Quarterly Results

PVR INOX, India's largest multiplex operator, announced a significant surge in profitability for the third quarter of the fiscal year 2026. The company reported a consolidated net profit of Rs 95.7 crore for the quarter ending December 2025, marking a remarkable 166.5% increase compared to the Rs 35.9 crore profit recorded in the same period of the previous fiscal year. This strong performance was supported by a healthy rise in total income, which grew to Rs 1,919.6 crore from Rs 1,759.1 crore year-on-year. The results reflect a robust recovery and growing consumer appetite for theatrical movie experiences, buoyed by a strong content pipeline across multiple languages.

A Landmark Year for Indian Theatrical Releases

The impressive quarterly results for PVR INOX are set against the backdrop of a historic year for the Indian film industry. Calendar year 2025 emerged as the highest-grossing year ever for theatrical releases in India, with total box office collections reaching an unprecedented Rs 13,395 crore. This figure represents a substantial 32% increase over pre-pandemic levels and a solid 13% growth year-on-year. The industry's depth and resilience were further highlighted by the fact that 37 different films crossed the Rs 100 crore box office milestone, the highest number ever recorded in a single year. This broad-based success underscores the enduring relevance of cinema in India's entertainment landscape.

Hindi Cinema Leads the Box Office Charge

Original Hindi language films were a primary contributor to this record-breaking year. The Hindi Box Office delivered its strongest performance in history, with collections surpassing Rs 5,500 crore, an 18% increase from the previous year. This growth was fueled by a more consistent release schedule and a healthier mix of genres that appealed to a wide range of audiences. The performance was anchored by several large-scale productions, most notably 'Dhurandhar,' which set a new benchmark by becoming the highest-grossing Hindi film of all time with a cumulative box office collection of Rs 1,000 crore.

Hollywood and Regional Films Bolster Growth

The positive trend was not limited to Bollywood. Hollywood films staged a strong comeback in the Indian market, registering a 49% year-on-year growth. With box office collections of Rs 1,403 crore, 2025 became Hollywood's best post-pandemic year in India and its second-best year ever. Regional cinema also continued its upward trajectory, with its collective box office growing by 4% year-on-year to an all-time high of Rs 6,488 crore. Gujarati cinema saw a phenomenal 188% growth, while Kannada cinema grew by 74%. Meanwhile, Malayalam cinema crossed the Rs 1,000 crore mark for the second consecutive year, demonstrating its strong content and dedicated viewership.

PVR INOX Q3 FY26 Financial Highlights

To provide a clear overview of the company's performance, the key financial metrics for the quarter are summarized below.

Operational Metrics and Expansion Plans

During the third quarter, PVR INOX recorded 3.73 crore admissions. The company reported record-breaking average ticket prices and spend per head, which reached Rs 281 and Rs 140, respectively. In terms of expansion, the company has added 77 new screens and closed 67 underperforming ones so far in the current fiscal year. The full-year target is to open approximately 100-110 new screens. The company's screen portfolio currently stands at 1,728 screens across 350 cinemas in 111 cities.

Management's Vision for Sustainable Growth

Commenting on the results, Ajay Bijli, Managing Director of PVR INOX, expressed confidence in the company's future. "With a strong content slate ahead, a capital-light expansion strategy, and a significantly strengthened balance sheet, we believe PVR INOX is entering its next phase of sustainable growth," he stated. Bijli emphasized that the company's focus remains on delighting consumers, driving footfalls through innovation, and creating long-term value for its shareholders. This forward-looking strategy aims to build on the current momentum and solidify the company's market leadership.

Debt Reduction and Balance Sheet Strength

A key achievement highlighted in the company's report is the consistent reduction of its net debt following the merger. As of December 2024, the company's net debt stands at Rs 995.8 crore. This marks a significant reduction of Rs 434.6 crore from the Rs 1,430.4 crore reported in March 2023. This deleveraging effort strengthens the company's financial position, providing greater flexibility for future investments and operations. The focus on improving free cash generation is a core component of this financial discipline.

Market Analysis and Investor Outlook

Despite the strong quarterly performance, the company's stock has faced some market pressure. As of February 5, 2026, the stock was trading around Rs 988, with a market capitalization of approximately Rs 9,835 crore. The promoter holding remained stable at 27.53% in the December 2025 quarter. While the financial results are positive, investor sentiment may be influenced by broader market trends and sector-specific outlooks. The company's continued ability to capitalize on the strong content pipeline will be crucial for its stock performance going forward.

Looking Ahead

PVR INOX's third-quarter results demonstrate a powerful recovery, driven by a record-setting year for Indian cinema. The combination of blockbuster content, operational efficiency, and disciplined financial management has placed the company on a solid growth trajectory. With a promising slate of upcoming films and a clear strategic focus on capital-light expansion and debt reduction, PVR INOX is well-positioned to navigate the evolving entertainment landscape and continue delivering value to its stakeholders.