UFO Moviez reports Q4 & FY22 results
UFO Moviez, India’s largest in-cinema advertising platform, with the power to impact almost 1.8billion viewers annually through 3,484screens under the PRIME and POPULAR channels across 1,186cities& towns, today, announced its financial results for the quarter and year ended March31, 2022.
Quarter ended March31, 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 (-)₹-238million (Q4FY21–minus (-) ₹303) million and PAT stood at minus (-)₹189million (Q4FY21–minus (-) ₹255) million.
Year ended March31,2022
Consolidated revenue stood at ₹1,639 million (FY21–₹922) million. EBITDA stood at minus (-)₹472million (FY21–minus (-) ₹837) million. PBT stood at minus (-)₹1,067million (FY21–minus (-) ₹1,510) million and PAT stood at minus (-)₹869million (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”. BCS Bureau
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