UFO Moviez reports 7% increase in consolidated revenues, up from ₹1,109mn in Q3FY23 to ₹1,184mn in Q3FY24

UFO Moviez, India’s largest in-cinema advertising platform, with the power to impact almost 1.7 billion viewers annually through 3,407 screens under the PRIME and POPULAR channels across 1,257 cities and towns announced its financial results for the quarter ended December 31,2023.

Financial Highlights: 

Quarter ended December 31, 2023 

During the quarter, overall business saw an improvement on the back of improved Advertising and Theatrical Revenue. This led to an improved EBITDA and profitability on Q-o-Q and Y-o-Y basis. The Caravan Advertisement also gained some traction from the government segment this quarter.

• Consolidated Revenues grew by 7% from ₹ 1,109 mn in Q3FY23 to ₹ 1,184 mn in Q3FY24
• EBITDA margin improved by 649 bps from 9.10% in Q3FY23 to 15.58% in Q3FY24,
• EBITDA in Q3FY24 grew by 83% at ₹ 184 mn versus ₹ 101 mn in Q3FY23,
• PBT improved from negative ₹ 10 mn in Q3FY23 to ₹ 60 mn Q3FY24,
• PAT grew to ₹ 46 mn versus Loss of ₹ 3 mn in Q3FY23.

Nine months ended December 31, 2023

• Consolidated Revenues stood at ₹ 2,909 mn versus ₹ 3,093 mn in 9MFY24,
• EBITDA margin improved by 1,079 bps from 7.24% in 9MFY23 to 18.03% in 9MFY24,
• EBITDA in 9MFY24 grew by 134% at ₹ 524 mn versus ₹ 224 mn in 9MFY23,
• PBT improved from negative ₹ 138 mn in 9MFY23 to at ₹ 165 mn in 9MFY24,
• PAT grew to ₹ 103 mn versus negative ₹ 120 mn in 9MFY23.

Rajesh Mishra, Executive Director and Group CEO, said, “The first half of this quarter started on a muted note due to the Cricket World Cup. However, the overall business during the quarter exhibited notable improvement.

”The month of December marked a turning point with successful releases across languages, especially Hindi Releases. This upswing led to an uptick in advertising revenue, achieving the highest ever quarterly advertisement revenue since Q3FY20.

“This underscores the growing confidence of advertisers in cinema as a potent advertising platform. With our Advertisement Screen Network now expanded to 3,407 screens (104 added during the quarter), and exclusive advertising rights secured across another 403 screens through a tie up with TSR Films in January 2024, we hope to accelerate and continue to build on the positive momentum,” Mishra added.