UFO Moviez announces Q4 & FY22 Results
UFO Moviez with the power to impact almost 1.8 billion viewers annually through 3,484 screens under the PRIME and POPULAR channels across 1,186 cities & towns, today, announced its financial results for the quarter and year ended March 31, 2022.
Quarter ended March 31, 2022
Theatrical and Advertisement revenues continued to remain impacted due to the third wave of COVID-19 pandemic fuelled by the Omicron Variant. As a result of this new wave and ensuing restrictions, business operations were affected in January and most of February.
Consolidated revenue stood at ₹561 million (Q4FY21 – ₹335) million. EBITDA stood at minus (-)₹119million (Q4FY21 – minus (-) ₹159) million. PBT stood at minus (-)₹-238 million (Q4FY21 – minus (-) ₹303) million and PAT stood at minus (-)₹189 million (Q4FY21 – minus (-) ₹255) million.
Year ended March 31, 2022
Consolidated revenue stood at ₹1,639 million (FY21 – ₹922) million. EBITDA stood at minus (-)₹472 million (FY21 – minus (-) ₹837) million. PBT stood at minus (-)₹1,067 million (FY21 – minus (-) ₹1,510) million and PAT stood at minus (-)₹869 million (FY21 – minus (-) ₹1,176) million.
- The resurgence of COVID-19 cases towards the end of December 2021, led to various state governments taking restrictive measures to prevent the spread of virus that once again led to deferring of new movie releases in the first half of Q4FY22.
- The impact of the third wave was short lived and movies started to release in the second half of Q4FY22.
- In March, all the occupancy restrictions were eased and 100% occupancy was allowed in cinemas.
“Despite beginning the year on a muted note due to the impact of the second wave of the pandemic, the second half of the year has witnessed an uptick in the recovery. This was inspite of the third wave of the pandemic affecting business operations in January and for most of February, said Kapil Agarwal, Joint Managing Director. “Easing of occupancy restrictions and steady release of movies have led to a bounce back in CDC revenues, while advertisement revenues have also begun to see a gradual uptick. In the last few months, a number of movies irrespective of the budget and genre have been huge hits, proving that moviegoers are returning to theatres in large numbers. In addition, the acceptance of mass appeal South and other regional movies across India is a healthy sign of the industry's expansion. It will benefit all industry participants”.