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PVR INOX Q2 FY27 results: net profit up 149.4% to ₹263.10 crore, revenue up 15.5%
PVR INOX Limited reported consolidated Q2 FY27 revenue of ₹2,105 crore, up 15.5% from Q2 FY26, while EBITDA rose 25.8% to ₹769.30 crore and the margin expanded 2.9 percentage points to 36.5%. Net profit rose 149.4% to ₹263.10 crore and basic EPS increased to ₹26.82 from ₹10.78.
Key points
- Consolidated Q2 FY27 revenue was ₹2,105 crore, up ₹282.10 crore or 15.5% from Q2 FY26.
- EBITDA was ₹769.30 crore in Q2 FY27, up ₹157.60 crore or 25.8% year on year, with margin at 36.5%.
- Net profit was ₹263.10 crore, against ₹105.50 crore in Q2 FY26, while basic EPS rose to ₹26.82.
- Against Q1 FY27, revenue rose 29.8% to ₹2,105 crore and net profit increased 365.7% to ₹263.10 crore.
- In H1 FY27, revenue was ₹3,727.3 crore and net profit was ₹319.6 crore, compared with ₹3,292.1 crore and ₹51.0 crore in H1 FY26.
How did PVR INOX perform in Q2 FY27?
PVR INOX reported consolidated revenue of ₹2,105 crore for Q2 FY27, up 15.5% from ₹1,823 crore in Q2 FY26. EBITDA rose 25.8% to ₹769.30 crore from ₹611.70 crore, while the margin expanded 2.9 percentage points to 36.5%. The profit before tax figure was ₹350.80 crore, and net profit rose 149.4% to ₹263.10 crore.
Against Q1 FY27, revenue increased 29.8% to ₹2,105 crore from ₹1,622 crore, and EBITDA rose 45.6% to ₹769.30 crore from ₹528.50 crore. The margin widened 3.9 percentage points to 36.5%, PBT rose 363.4% to ₹350.80 crore, and net profit increased 365.7% to ₹263.10 crore. Basic EPS was ₹26.82, compared with ₹5.75 in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2,105 | 1,622 | 1,823 | +15.5% | +29.8% |
| Other income | 34.20 | 26.10 | 35.90 | −4.7% | +31.0% |
| Total expenses | 1,788 | 1,573 | 1,716 | +4.2% | +13.7% |
| EBITDA | 769.30 | 528.50 | 611.70 | +25.8% | +45.6% |
| EBITDA margin | 36.5% | 32.6% | 33.6% | +2.9 pp | +3.9 pp |
| Profit before tax | 350.80 | 75.70 | 142.40 | +146.3% | +363.4% |
| Tax | 87.70 | 19.20 | 36.90 | +137.7% | +356.8% |
| Net profit | 263.10 | 56.50 | 105.50 | +149.4% | +365.7% |
| EPS (₹) | 26.82 | 5.75 | 10.78 | +148.8% | +366.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in PVR INOX's costs and profit?
Total expenses were ₹1,788 crore in Q2 FY27, up 4.2% from ₹1,716 crore in Q2 FY26. Other expenses increased ₹112 crore to ₹999.80 crore and cost of materials rose ₹12.50 crore to ₹143.40 crore, while employee cost was unchanged at ₹192.60 crore.
Finance costs fell ₹31.80 crore to ₹156.50 crore from ₹188.30 crore, and depreciation declined ₹20.80 crore to ₹295.90 crore from ₹316.70 crore. Other income was ₹34.20 crore, down ₹1.70 crore from ₹35.90 crore, and the quarter included a ₹0.30 crore exceptional charge.
Tax expense increased ₹50.80 crore to ₹87.70 crore from ₹36.90 crore in Q2 FY26. The filing does not state why the movements in other expenses, materials costs, finance costs, depreciation, other income or tax occurred.
Against Q1 FY27, total expenses rose ₹215.50 crore to ₹1,788 crore. Other expenses increased ₹201 crore to ₹999.80 crore, cost of materials rose ₹25.40 crore to ₹143.40 crore, employee cost rose ₹15.70 crore to ₹192.60 crore, finance costs fell ₹8 crore to ₹156.50 crore and depreciation fell ₹18.60 crore to ₹295.90 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 143.40 | 130.90 | +12.50 | +9.5% |
| Employee cost | 192.60 | 192.60 | 0 | +0.0% |
| Finance costs | 156.50 | 188.30 | −31.80 | −16.9% |
| Depreciation | 295.90 | 316.70 | −20.80 | −6.6% |
| Other expenses | 999.80 | 887.80 | +112 | +12.6% |
| Total expenses | 1,788 | 1,716 | +71.90 | +4.2% |
| Other income | 34.20 | 35.90 | −1.70 | −4.7% |
| Tax | 87.70 | 36.90 | +50.80 | +137.7% |
| Exceptional items | −0.30 (charge) | −0.20 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹3,727.3 crore, up 13.2% from ₹3,292.1 crore in H1 FY26. Total income rose 12.7% to ₹3,787.6 crore from ₹3,360.4 crore, while PBT increased 491.5% to ₹426.5 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,727 | 3,292 | +13.2% |
| Profit before tax | 426.50 | 72.10 | +491.5% |
| Net profit | 319.60 | 51 | +526.7% |
| EPS (₹) | 32.57 | 5.26 | +519.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹15,214.3 crore at 30 September 2026, compared with ₹15,612.3 crore at 31 March 2026. Total equity rose to ₹7,389.9 crore from ₹7,378.7 crore, borrowings fell to ₹500.9 crore from ₹758.6 crore, and cash was ₹583.3 crore against ₹588.3 crore.
Inventories increased to ₹77.1 crore from ₹73.2 crore, trade receivables fell to ₹233.1 crore from ₹267.2 crore, and trade payables rose to ₹715.7 crore from ₹594.8 crore. Management said the company ended September with net cash of ₹141 crore, up from ₹81 crore in June.
H1 FY27 operating cash flow was ₹1,389.1 crore, compared with ₹1,137.8 crore in H1 FY26. Investing cash flow was negative ₹170.9 crore against negative ₹131.0 crore, financing cash flow was negative ₹1,223.2 crore against negative ₹862.1 crore, and capex was ₹133.6 crore compared with ₹138.0 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 15,214 | 15,612 |
| Total equity | 7,390 | 7,379 |
| Borrowings | 500.90 | 758.60 |
| Cash and equivalents | 583.30 | 588.30 |
| Inventories | 77.10 | 73.20 |
| Trade receivables | 233.10 | 267.20 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1,389 | 1,138 |
| Cash from investing | −170.90 | −131 |
| Cash from financing | −1,223 | −862.10 |
| Capital expenditure | 133.60 | 138 |
Source: Company's results filing (XBRL).
How has PVR INOX done over the last 8 quarters?
Revenue rose year on year in each of the last six quarters. In the reported series, revenue peaked at ₹2,105.1 crore in Q2 FY27 and bottomed at ₹1,249.8 crore in Q4 FY25, with the current reading moving higher from ₹1,622.2 crore in Q1 FY27.
Net profit reached ₹263.1 crore in Q2 FY27, the highest point in the reported series, while the bottom was a net loss of ₹125.3 crore in Q4 FY25. Profit declined from ₹186.4 crore in Q4 FY26 to ₹56.5 crore in Q1 FY27 before rising in the latest quarter.
EBITDA margin peaked at 36.5% in Q2 FY27 and bottomed at 22.7% in Q4 FY25. It fell from 33.1% in Q3 FY26 to 29.2% in Q4 FY26, recovered to 32.6% in Q1 FY27 and increased further in Q2 FY27.
Which businesses drove the quarter?
Movie exhibition reported revenue of ₹2,104.1 crore in Q2 FY27, up 16.9% from ₹1,800 crore in Q2 FY26. Segment EBIT rose to ₹340.8 crore from ₹140.1 crore, with an EBIT margin of 16.2%.
Movie production and distribution reported revenue of ₹59.8 crore, up 8.5% from ₹55.1 crore in the year-ago quarter. EBIT increased to ₹10.0 crore from ₹4.9 crore, while the segment’s EBIT margin was 16.7%.
Others recorded no revenue and no EBIT in Q2 FY27, compared with revenue of ₹32.4 crore and an EBIT loss of ₹2.6 crore in Q2 FY26. Inter-segment revenues and eliminations were unchanged at no revenue and no EBIT in both periods.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Movie exhibition | 2,104 | +16.9% | 340.80 | 16.2% |
| Movie production and distribution | 59.80 | +8.5% | 10 | 16.7% |
| Others | 0 | 0 | ||
| Inter segment revenues/elimination | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 28 October 2026, the board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The audit committee reviewed the results, and S.R. Batliboi & Co. LLP issued an unmodified limited review report. The trading window reopened from 31 October 2026.
What did PVR INOX's management say?
Management maintained guidance for 90-100 new screens in FY27, mainly under capital-light formats with most openings in H2. It raised the annual target to 150-175 screens from FY28 and expects two to three additional SMART Cinemas in FY27 after the Muzaffarpur pilot.
Management said the company expects H1 momentum to continue in H2 but noted uncertainty about audience response to the release slate. It also said net debt-to-EBITDA should remain within 0.5x after distributions, with around 30% of annual surplus cash flow expected to be returned through dividends, buybacks or a combination.
The call identified faster screen additions, higher fit-out and execution requirements, and the need to preserve unit economics in Tier 3 and Tier 4 markets as risks. Management said SMART Cinemas have cut capex by 25-30% and opex by about 25%, with more than 100 sites signed, and stated that paybacks should be no more than 3-4 years.
How did PVR INOX shares react?
After the filing appeared, PVR INOX was up 2.4% after five minutes, 3.1% after 15 minutes and 4.5% after 30 minutes. It closed 1.9% below its previous close on the reaction day, when the industry median gain was 1.8%, resulting in 3.7 percentage points of underperformance.
Earlier results-day reactions were positive on 23 July 2026 and 19 July 2024, at 1.6% and 2.1%, respectively. The stock fell on the other listed result days, including 4.9% on 11 May 2026, 2.5% on 5 February 2026 and 0.8% on 17 October 2025.
| After the filing | Stock | Film Production Distribution & Exhibition median |
|---|---|---|
| 5 minutes | +2.4% | |
| 15 minutes | +3.1% | |
| 30 minutes | +4.5% | |
| Reaction day | −1.9% | +1.8% |
| Next day | +1.2% | +0.9% |
| 5 days | +7.8% | +2.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 23 July 2026 | +1.6% |
| 11 May 2026 | −4.9% |
| 5 February 2026 | −2.5% |
| 17 October 2025 | −0.8% |
| 6 August 2025 | −0.1% |
| 6 February 2025 | −0.3% |
| 15 October 2024 | +1.6% |
| 19 July 2024 | +2.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was PVR INOX's revenue in Q2 FY27?
Revenue from operations was ₹2,105 crore, up 15.5% from ₹1,823 crore in Q2 FY26 (consolidated).
Did PVR INOX make a profit in Q2 FY27?
Yes. Net profit was ₹263.10 crore, against a net profit of ₹105.50 crore in Q2 FY26.
What was PVR INOX's EPS in Q2 FY27?
Basic earnings per share were ₹26.82, against ₹10.78 in Q2 FY26.
How did PVR INOX shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.9% from the previous close; the median Film Production Distribution & Exhibition stock moved +1.8%.
When did PVR INOX announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Board Meeting Pursuant To Regulations 29 And 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015. (BSE, 21 October 2026) · PDF
- Outcome of Board Meeting (NSE, 28 October 2026) · PDF
- The earnings call (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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