PVR and INOX Attract 6,000 Subscribers to PVR Passport; Expand Screen Presence in Gurgaon

Oct 31, 2023 - 09:12
Oct 31, 2023 - 09:19
PVR and INOX Attract 6,000 Subscribers to PVR Passport; Expand Screen Presence in Gurgaon

PVR INOX Reports Over 6,000 Subscribers for PVR Passport; Expands with New Screens in Gurgaon

PVR INOX proudly announced that their PVR Passport subscription plan, introduced on October 16, has attracted over 6,000 subscribers. PVR Passport offers movie enthusiasts the opportunity to enjoy up to 10 films each month for a fixed monthly fee of Rs 699. Sanjeev Kumar Bijli, the Executive Director of PVR INOX Ltd, explained that this subscription model, a common practice in markets like the US, aims to boost cinema attendance on weekdays, particularly between Monday and Thursday.

In a significant development, PVR INOX unveiled a state-of-the-art five-screen multiplex at Elan Mercado in Sector 80, NH-8, Gurugram. This new cinema complex represents PVR INOX's 13th property in Gurugram, marking a significant expansion in Haryana, with 88 screens in 22 properties. The company continues its Northern India expansion, boasting 463 screens in 103 properties. The theater offers a seating capacity for 749 guests, featuring last-row recliners in all auditoriums. Sanjeev Kumar Bijli shared, "Our growth strategy encompasses not only expanding our footprint in major cities but also venturing into new territories like Bhubaneswar, Machilipatnam, Jodhpur, and more."

With this expansion, PVR INOX now manages a total of 1,707 screens across 359 properties in 115 cities. The company reported a net profit of Rs 166.3 crore in the second quarter of FY24, a notable turnaround from the Rs 82 crore loss in the previous quarter. Their revenue surged by 53.3%, reaching Rs 1,999.9 crore in Q2, FY24, up from Rs 1,305 crore in the initial quarter. The company has high hopes for strong box office growth during November and December, with a promising film lineup that includes Aquaman and the Lost Kingdom, Dhunki, Animal, Tiger 3, and more.

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