INOX revenue up by 12% in FY2020 despite Covid2019 impact

MUMBAI: INOX Leisure Ltd reported financials for the fourth quarter and the financial year ending 31 March 2020. While Covid2019 eroded the last quarter, the company claims to have made a substantial increase in its yearly performance.

EBITDA for Q4 2020 stands at Rs 40 crore, quarterly loss after tax was at Rs 2 crore. Total revenue for Q4 is Rs 376 crore.

On the other hand, for FY2020, it saw revenue up by 12 per cent to Rs 1915 crore, EBIDTA growth by seven per cent to touch Rs 347 crore, PAT growth at six per cent to hit Rs 141 crore. Additionally, the company release says that it saw a footfall of 66 million this year. The spend per head showed eight per cent growth annually and stood at Rs 80.

The Covid2019 pandemic impacted its ad revenue. The recessionary slowdown and Covid-induced fear psychosis towards the end of the FY led to a flat trajectory with just one per cent growth, said the company.

INOX Group director Siddharth Jain said, “Despite the advent of Covid2019, we managed to continue our uninterrupted streak of revenue growth. The advent of Covid2019 has left a serious mark on our fourth quarter performance and will remain a cause of concern in the subsequent months as well. With a clear priority on safety and well-being of our guests as well as our employees, we are preparing ourselves with the wherewithal which would help us see through this phase. Our SOPs have been tailored to offer a safe, reliable and a seamless movie watching experience once we resume operations. We are confident that the signature INOX experience, which has become synonymous to movie watching in our country, will remain intact, and will continue to delight our patrons on the other side of Covid2019. We are banking on our inherent passion and our robust balance sheet, which would help us emerge stronger and faster from this pandemic situation and deliver a remarkable turnaround, delighting all our stakeholders.”