Mumbai: UFO Moviez, an in-cinema advertising platform, with the power to impact almost 1.9 billion viewers annually through 3,769 screens under the Primne and Popular channels across 1,382 cities & towns, today, announced its financial results for the first quarter ended 30 June, 2024.
Despite a modest decline in ad, theatrical revenues UFO Moviez’ 1Q revenue was up by 11% due to notable year-over-year growth in revenue from Exhibitors. The overall performance in the quarter was subdued due to lack of tent-pole films. On the screen network front, the advertisement screen network saw a 17% increase year-over-year, although it experienced a slight decline of 2% quarter-over-quarter.
But the company conceded that the overall performance in Q1FY25 fell short of expectations
ü Consolidated Revenues grew by 11% from ₹ 853 million in Q1FY24 to ₹ 945 million in Q1FY25,
ü EBITDA for the quarter stood at Rs. 66 million, compared to Rs. 163 million in Q1FY24,
ü Reported a pre-tax loss of Rs. 42 million in Q1FY25, compared to the profit of Rs. 36 million in Q1FY24,
ü Reported Net loss of Rs. 42 million in Q1FY25, compared to a Net profit of Rs. 25 million in Q1FY24.
“Q1FY25 had a slow start due to the general elections and a lower number of movie releases. The underperformance of big-budget films and a lack of successful content negatively affected overall results. However, with the success of ‘Kalki 2898 AD’ at the end of Q1FY25 and an exciting lineup of upcoming releases across languages, we are hopeful for a positive turnaround in the coming quarters” said Rajesh Mishra, executive director, group CEO UFO Moviez.
