Advertisement
Tuesday, Nov 30, 2021
Outlook.com
Outlook.com

Inox Leisure Reports Rs 88 Crore Loss In Q2 Due To Second Covid-19 Wave

According to the company, which operates 658 screens across 156 multiplexes in 70 cities, it has started opening cinemas in a staggered manner from July 2021.

Inox Leisure Reports Rs 88 Crore Loss In Q2 Due To Second Covid-19 Wave
Inox Leisure Reports Rs 88 Crore Loss In Q2 Due To Second Covid-19 Wave
outlookindia.com
2021-10-22T17:10:56+05:30

Multiplex chain operator Inox Leisure on Friday reported widening of consolidated net loss at Rs 87.66 crore for Q2 ended September 2021-22 as its film exhibition business was impacted due to restrictions imposed after the second wave of COVID-19.

Inox said in a BSE filing that the company posted a net loss of Rs 67.83 crore for the July-September period a year ago. Revenue from operations zoomed to Rs 47.44 crore from Rs 36 lakh in the year-ago period.

Total expenses in the period under review were Rs 170.22 crore as against Rs 95.29 crore.

According to the company, which operates 658 screens across 156 multiplexes in 70 cities, it has started opening cinemas in a staggered manner from July 2021 after getting permission from various state governments to operate as per the prescribed Standard Operating Procedures.

“All states with INOX’s presence have allowed cinemas to operate as per Unlock directives,” said Inox Leisure in a post-earnings statement.

The multiplex chain added two new properties with six screens in the quarter under review.

Siddharth Jain, Director at Inox Group, said the company’s performance in this quarter signifies the beginning of the revival journey, which has come after numerous quarters of uncertainty.

In this quarter, Inox received an “encouraging response” for movies including Bell Bottom, F9 The Fast Saga, Mortal Kombat, Shangchi the Legend Of Ten Rings and No Time to Die which proves that patrons are willing to turn up for good quality content.

(With PTI Inputs)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

The incoming CEO is an IIT Bombay graduate who joined Twitter a decade back after having worked at Microsoft, Yahoo and AT&T in research positions.

Omicron: WHO Warns World Should Be Wide Awake

Omicron: WHO Warns World Should Be Wide Awake

WHO Director-General Tedros Adhanom Ghebreyesus said the emergence of the highly mutated omicron variant underlines just how perilous and precarious our situation is.

Omicron Scare Looms Over IND Tour Of SA, BCCI Awaits Govt Nod

Omicron Scare Looms Over IND Tour Of SA, BCCI Awaits Govt Nod

Several sporting events have been cancelled due to the new variant of the coronavirus, Omicron. India are scheduled to tour South Africa for a full series.

How New Covid-19 Variant Is Impacting Travel Across States In India

How New Covid-19 Variant Is Impacting Travel Across States In India

India has issued fresh travel restrictions for international travellers coming from 'at risk' nations in the wake of the Omicron outbreak across several countries in the world.

Advertisement