Wait what! PVR Inox's food and beverage business generated THIS unbelievable revenue this year

According to recent research, the food and beverage division of theater chain PVR Inox generated significant profits in the fiscal year 2023–2024. The Moneycontrol report states that sales of box office tickets did not grow as quickly as the F&B business did. The previous fiscal year saw a 19% increase in movie ticket sales and a 21% increase in revenue from food and beverage sales. 

A whooping sum total! 

F&B sales brought in ₹1,958.4 crore as opposed to ₹1,618 crore in the previous year. ₹3,279.9 crore was earned from movie tickets, as opposed to ₹2,751.4 crore in 2022–2023. Since successful films have been hard to come by, Nitin Sood, Group CFO (Chief Financial Officer), PVR Inox, told Moneycontrol that this kind of pattern was observed last year. "F&B income is greater because they have put up a lot of these facilities in the metros and non-metros where people can come and consume food and not necessarily watch movies," says Karan Taurani, senior vice-president of Elara Capital.

Massive F&B sales 

Additionally, the business has begun delivering as an experiment in a few locations, but only in very specific markets. Thus, these factors have helped to increase F&B revenue growth. Indian moviegoers have long voiced dissatisfaction with the cost of food and drinks in theaters. A tweet that stated that popcorn was more expensive than an entire month of OTT subscriptions went viral in July of the previous year. In response, PVR introduced a new deal for its customers that included bottomless popcorn tubs. "We at PVR think that every perspective matters and it must be respected," they stated with an image that they published. 

PVR baggs corns over!

Operators of quick service restaurants Devyani International Ltd (DIL) and movie theater operator PVR INOX announced last week that they will work together to create a business for the creation and management of food courts in Indian shopping centers. According to a joint statement from the two companies, this partnership would enable DIL and PVR INOX to reach a larger audience and increase their market presence.
"This collaboration has opened up new opportunities for development and expansion while solidifying DIL's position in the Indian food courts market...As one of the strategic future growth pillars, DIL is dedicated to growing its food courts business in India, according to Non-Executive Chairman Ravi Jaipuria.