PVR Inox Q3 FY26 Earnings Results: Net Profit Jumps 166% YoY to ₹96 Crore; Revenue Rises 9%

Cinema chain operator PVR Inox posted a sharp rise in consolidated net profit for Q3 FY26. Profit increased to about ₹95.7 crore from ₹35.9 crore in the same quarter last year, showing strong year-on-year growth.

However, on a quarter-on-quarter basis, profit declined nearly 9% compared to ₹105.7 crore reported in the previous quarter.

PVR Inox Revenue and Operating Performance

Consolidated revenue from operations grew around 9% year-on-year to ₹1,879.8 crore. Revenue remained mostly stable compared to the September quarter.

EBITDA, excluding the impact of a labour code provision, rose to about ₹662 crore from ₹569.5 crore last year. The company maintained EBITDA margins near 18% for the second straight quarter, even with lower occupancy levels than before the pandemic. This improvement reflects merger benefits and better cost control.

Content Strength and Screen Expansion

Performance during the quarter was supported by strong film releases and a balanced content mix. The Hindi film Dhurandhar crossed ₹1,000 crore at the box office, helping drive footfall.

PVR Inox added 20 screens in Q3 and exited three weak locations. For the first nine months of FY26, it added 62 screens and closed 11 loss-making ones.
The company remains on track to add 90–100 screens during FY26 under its capital-light expansion strategy.

Debt Reduction and Balance Sheet Improvement

The company generated free cash flow of about ₹587 crore in the first nine months of FY26.
Net debt reduced to around ₹365 crore as of December 2025, marking a 72% decline since the PVR–Inox merger.

It also sold its stake in the 4700BC brand to Marico for ₹226.8 crore in cash, further strengthening its financial position.

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Management Outlook and Share Price Reaction

Management said a strong movie pipeline, expansion strategy, and improved balance sheet position the company for steady long-term growth.

Despite positive results, PVR Inox share price (NSE: PVRINOX) fell more than 4% after the announcement.

Conclusion

PVR Inox delivered strong year-on-year profit growth, stable revenue, and major debt reduction in Q3 FY26. While short-term market reaction was negative, improved operations and expansion plans support a positive long-term outlook.

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