INOX Leisure’s Q1FY22 print has little relevance on limited opening of theaters; it incurred cash EBITDA loss of Rs1.07mn. Though H1FY22 was expected to be a washout due to lockdown, restricted occupancy and fewer releases, gradual permits for reopening of theaters by states has been encouraging. Only 5 states are pending to reopen with Maharashtra and Tamil Nadu being key. Once these states also reopen, the brokerage expects a strong movie release pipeline that should help the company report first quarterly profit in Q3FY22 or Q4FY22 after a gap of 7-8 quarters. INOX has healthy balance sheet with net cash of Rs1.2bn; strong screens pipeline increases visibility of growth on normalisation.
Multiplexes set to re-open in select locations with Mortal Kombat on Friday
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Amazon Reportedly Considering Deal With Top Movie Theater Chain In India
ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.
Amazon eyes potential stake in Indian film, media businesses; Inox denies report
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.