UFO Moviez Reports Q3&9MFY23 Results

UFO Moviez, India’s largest in-cinema advertising platform, with the power to impact almost 1.8 billion viewers annually through 3,410 screens under the PRIME and POPULAR channels across 1,160 cities & towns, today announced its financial results for the quarter and nine months ended December 31, 2022. 

Financial Highlights: 

Quarter ended December 31, 2022

Advertisement revenues for this quarter have recovered well after the dip in Q2FY23 and surpassed the Q1FY23 levels with the steady increase in footfalls to the big screen and improvement in PSUs & State government’s advertisement spending. The overall business saw a marginal improvement led by a recovery in Hindi movie acceptance and content flow.

Consolidated Revenues stood at ₹1,109 mn versus ₹521 mn in Q3FY22,

EBITDA improved to  ₹101 mn versus negative EBITDA of 20 mn in Q3FY22,

PBT stood at negative ₹10mn versus negative ₹170 mn in Q3FY22,

PAT stood at negative ₹3 mn versus negative ₹130 mn in Q3FY22.

Nine months ended December 31, 2022

Consolidated Revenues stood  at ₹3,093 mn versus ₹1,067 mn in 9MFY22,

EBITDA improved to positive ₹224 mn versus negative EBITDA ₹353 mn in 9MFY22,

PBT stood at negative ₹138mn versus negative ₹829 mn in 9MFY22,

PAT stood at negative ₹120 mn  versus negative ₹680 mn in 9MFY22.            

“The bounce back of footfalls, cheerfulness and excitement amongst the viewers, sets a healthy momentum for the overall business growth in the coming months”, said Rajesh Mishra, Executive Director and Group CEO. “After the subdued performance in the last quarter due to content challenges, Q3FY23 proved to be the best quarter so far post-pandemic, with net profitability reaching near breakeven levels despite the performance of Hindi movies still not at pre-covid levels. Regional movies continue to perform well and engage the audiences with good content. However, though regional movies have contributed significantly to the overall business, recovery in Hindi movies is crucial to get the pre-covid level advertisement back. With the recent successes of Hindi films  and the line-up of movies releasing in the coming months, we are optimistic that the mass pull factor will gain momentum resulting in better recovery for the coming quarter.”        

 

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