PVR INOX Q2 Results: Net Profit Surges 149% YoY to ₹263 Crore as Revenue Hits ₹2,105 Crore

Key numbers

PE TTM	31.72Industry 38.93
Market Cap	₹14,102.5 CrMedia Sector
Piotroski Score	8High Strength
RSI	68.4Near Overbought

Key highlights

• Consolidated net profit grew by 149.4% YoY and 365.7% QoQ to reach ₹263 crore
• Revenue from operations rose to ₹2,105 crore, up 17% compared to ₹1,800 crore in Q2 FY26
• Operating margin significantly improved to 16.4% from 7.9% in the year-ago period
• Completed an equity share buyback of 20.69 lakh shares at ₹1,430 each, totaling ₹303.4 crore
• Movie exhibition segment remained the primary driver with ₹2,104 crore in revenue for the quarter

Strong Rebound in Cinema Footfalls Drives Growth

PVR INOX Limited showcased a significant rebound in profitability during the second quarter of the fiscal year 2026-27. The multiplex operator reported a consolidated net profit of ₹263 crore, representing a 149.4% increase over the ₹106 crore recorded in the corresponding quarter of the previous year. Revenue from operations also witnessed healthy growth, rising 17% year-on-year to ₹2,105 crore.

This performance follows a sharp sequential surge, with net profit rising by 365.7% from the ₹56.5 crore reported in the June 2026 quarter, reflecting a strong recovery in cinema attendance and content performance during the July-September window.

Operational Efficiency and Margin Expansion

Operational efficiency improved markedly during the period under review. The consolidated operating margin expanded to 16.4% in Q2 FY27, more than doubling the 7.9% margin reported in the same period last year. Total income for the quarter stood at ₹2,139 crore, which includes other income of ₹34.2 crore.

On the expense front, movie exhibition costs accounted for ₹496.8 crore, while the consumption of food and beverages stood at ₹143.4 crore. The company's focus on streamlining operations post-merger contributed to a profit before tax of ₹351 crore, a substantial increase from the ₹145 crore seen in Q2 FY26.

Capital Allocation and Share Buyback

• The Board approved a buyback of 20,68,965 equity shares on August 31, 2026, at ₹1,430 per share.
• The buyback represented 2.11% of the total paid-up equity capital as of March 31, 2026.
• The process concluded on September 24, 2026, resulting in a total cash outflow of ₹303.4 crore.
• Funding for the buyback was sourced from free reserves and securities premium.
• The company created a Capital Redemption Reserve of ₹2.1 crore as part of the legal appropriation.

Business Trends and Strategic Milestones

The results highlight a sustained growth trajectory for the merged entity, building on its transition to becoming net cash positive as of June 30, 2026. The management had previously revised its capital expenditure guidance for FY27 downwards to ₹350 crore in July 2026, signaling a focus on more capital-efficient theater expansion. While the movie exhibition segment generated ₹2,104.1 crore in revenue, the movie production and distribution arm contributed ₹59.8 crore.

The stock is currently trading at a TTM P/E of 31.72x, which is slightly below the industry average of 38.93x, following a 21.79% price appreciation over the last year.

What to watch next

• Reopening of the trading window for designated persons on October 31, 2026
• Execution of the revised ₹350 crore capital expenditure plan for the remainder of FY27
• Impact of major festive season releases on theater occupancy during the October-December quarter

PVR INOX · financial snapshot

Share price	₹1436.1
Market capitalisation	₹14,102.50 Cr
Revenue (annual)	₹6,646.20 Cr
Net profit (annual)	₹334.10 Cr
Revenue (latest quarter)	₹1,622.20 Cr+4.84% vs previous quarter
Net profit (latest quarter)	₹56.50 Cr-69.74% vs previous quarter
P/E (TTM)	31.72×Sector 28.63×
Promoter holding	27.6%+0.07% QoQ
FII holding	19.65%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.