Mumbai: UFO Moviez, India’s in-cinema advertising platform, with the power to impact almost 1.7 billion viewers annually through 3,234 screens under the PRIME and POPULAR channels across 1,181 cities & towns, has announced its financial results for the quarter ended 30 June 2023.      

Financial Highlights:  

Quarter ended June 30, 2023

Theatrical revenues marked an improvement due to continued healthy performance of regional movies and the success of mid-budget Hindi movies during the quarter. The corporate advertisement revenue marked the best quarter post-pandemic. Despite constraints in the Government advertisement sales, the overall business saw improvement, turning PAT positive this quarter for the first time after the onset of the pandemic.  

Consolidated Revenues stood at ₹853 mn versus ₹906 mn in Q1FY23,  

EBITDA improved to ₹163 mn versus ₹98 mn in Q1FY23,

PBT stood at ₹36 mn versus negative ₹27 mn in Q1FY23,

PAT is at ₹25 mn versus negative ₹26 mn in Q1FY23.

"Fiscal year 2024 commenced on a positive note, and Q1FY24 marked a significant milestone for the company as it achieved profitability after tax for the first time since Q4FY20, showcasing the improvement in the overall business," stated UFO Moviez India Ltd. group CEO & executive director Rajesh Mishra. "The strategic implementation of cost optimization measures has helped strengthen the company's financial performance. Additionally, the uptick in theatrical revenues and corporate advertisement has further contributed to the improvement in overall business. With recent announcements of strategic joint ventures and an exciting line-up of upcoming releases, we are optimistic that the business will experience substantial growth in near future."