PVR INOX posts record Q2 earnings, plans to return 30% of annual surplus cash

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The Economic Times daily newspaper is available online now. Read Today's Paper PVR INOX posts record Q2 earnings, plans to return 30% of annual surplus cash flowET OnlineLast Updated: Oct 28, 2026, 02:48:00 PM ISTSynopsis

PVR INOX has approved a new capital allocation and dividend distribution policy to reward shareholders. The company aims to return about 30% of its surplus cash flow via dividends or share buybacks. This decision follows a record earnings quarter attributed to strong film content and increased consumer spending. Previous results also showed the box office collections for September rising significantly compared to the previous year.

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Loading...×PVR INOX will look to return around 30% of its annual surplus cash flow to shareholders through dividends and/or share buybacks, as record earnings and stronger cash generation give India's largest cinema exhibitor greater room to reward investors.

The company's board approved a new capital allocation and dividend distribution policy on Tuesday, expanding its earlier dividend-only framework. The policy comes after PVR INOX maintained net-cash positive position, with net cash of Rs 140.7 crore as of September 30, even after completing its maiden Rs 300 crore share buyback in September.

Also Read: Dhurandhar 2: Why even a blockbuster is not bulletproof; PVR INOX's Pramod Arora bets on better theatres

The move comes after the company posted a record second quarter, on the back of strong film content, higher cutomer spending and disciplined cost management. International cinema performance was a key contributor to the broader industry, with English-language film collections in India rising 87% to Rs 1,024 crore in the quarter, crossing Rs 1,000 crore for the first time.

For multiple years after the COVID-19 pandemic, PVR's recovery was uneven, reflecting an OTT boom that threatened cinema-going habits and its costs structure that affected the company when footfalls were poor. Even as audiences began returning, occupany remained below pre-pandemic levels, leaving the firm grappling with how to revive margins.

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PVR, citing Ormax Media and company estimates, said India's gross box office collections rose 23% to a record Rs 4,443 crore in the quarter. The growth came on the back of strong Hollywood titles and domestic releases, with premium formats such as IMAX also benefiting from audience demand.

Also Read: PVR INOX’s Marriott moment: How a theatre giant is rewriting the cinema playbook in India with a new-age expansion model

PVR INOX reported record quarterly revenue of Rs 2,132.7 crore, up 17% on an Ind AS 116-adjusted basis. Adjusted EBITDA jumped 44% to Rs 475.2 crore, while the margin expanded to 22.3% from 18.1% last year. Profit after tax from continuing operations more than doubled to Rs 273.3 crore, up 111%.

The exhibitor welcomed 46.3 million patrons in the quarter, a 4% rise, while occupancy improved to 30.4% from 28.7%. Average ticket prices and average food-and-beverage spending per head both rose 14% to Rs 298 and Rs 153, respectively. Ticketing and food-and-beverage revenues each grew 18%.

It operated 1,797 screens across 114 cities in India and Sri Lanka at the end of September. It opened 24 screens and exited 25, mostly loss-making, during the first half. The company plans to add 90-100 screens in FY27, with most openings expected in the second half under capital-light models.
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