Multiplex operator Inox Leisure to add 834 screens after FY23

Inox Leisure is confident of pursuing an expansion strategy and has a pipeline of 834 additional screens after FY23, according to the latest annual report of the company.

The company, which was operating 692 screens in 73 cities across India as on June 30, 2022, estimates the total screen count to go up to 752 by the end of ongoing fiscal year.

In FY22, its revenue from operations was at Rs 677.87 crore as compared to Rs 98.74 crore a year ago when the operation was heavily impacted due to the pandemic. On the revenue front, Inox is also working on the use of alternate content to cinema audiences.

Inox Leisure also has tied up with ICC to screen live matches at selected INOX cinemas.

In March, the company announced a merger with rival PVR and its board approved a draft scheme of amalgamation, which is subject to the receipt of regulatory approvals including from NCLT, SEBI and others. According to the company, it has received observation letter with no adverse observations from BSE and observation letter with no objection" from NSE in relation to the scheme of amalgamation.