Film Exhibition Q1 Results Preview - Global, Domestic Events Keep Multiplexes Muted: Nirmal Bang

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.After Q2 FY24 turned out to be the best quarter in the Indian multiplex history, Q3 FY24 saw a sharp QoQ dip (despite a strong December 2023) and the trend continued in Q4 FY24 on a QoQ basis. We believe that Q1 FY25 will be the third consecutive quarter of disappointment as major events like the IPL, T20i World Cup, general elections in India and heat waves across the country impacted the flow of Hindi releases and Hollywood content remained limited (due to the actors’ and writers’ strike in H2 CY23). Advertisement revenue will also be cannibalized by the IPL and T20i World Cup..We were expecting a weak Q1 FY25 and believe that Q1 FY25 occupancy likely stood at ~21% versus 32.3% in Q2 FY24, 25.2% in Q3 FY24 and ~22.6% in Q4 FY24. The biggest saving grace of the quarter was ‘Kalki 2898 AD’, which was released in the last weekend and garnered ~Rs 3 billion+ India GBOC in the last three days of the quarter. Other key movies included ‘Aavesham’ (~Rs 1 billion), ‘Munjya’ (~Rs 1 billion), ‘Aranmanai 4’ (~Rs 850 million), ‘BMCM’ (~Rs 730 million), ‘Maidaan’ (~Rs 610 million), ‘Garudan’ (~Rs 620 million), and ‘Chandu Champion’ (~Rs 600 million). This is the first quarter in Indian cinema history when a regional movie will be the highest grosser in each of the three months. With April 2024 and May-24 GBOC at Rs 4.6 billion and Rs 7.1 billion, respectively being very low, June-24 will be the best month this quarter. PVR-INOX has a low share in the regional box office, which has had the highest share of the total GBOC in Q1 FY25..Click on the attachment to read the full report:.Consumer Durables Q1 Results Preview - Healthy Demand, Driven By Season: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Film Exhibition Q1 Results Preview - Global, Domestic Events Keep Multiplexes Muted: Nirmal Bang

Lack of big blockbuster movies, both on the Bollywood as well as Hollywood side, led to weaker average ticket price on YoY basis

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Film Exhibition Q1 Results Preview - Global, Domestic Events Keep Multiplexes Muted: Nirmal Bang

Lack of big blockbuster movies, both on the Bollywood as well as Hollywood side, led to weaker average ticket price on YoY basis

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