Multiplex operator Inox Leisure plans to invest around Rs100 crore to open 39 more screens this fiscal to take its total screen count to over 500. The company operates over 475 screens in 58 cities.
“A new screen pipeline for the (remaining part of this financial) year includes 9 properties with 39 screens and 6,577 seats,” CEO, Inox Leisure, Alok Tandon told analysts during a conference call.
According to a PTI report: The company said on an average it spends around Rs 2.5-3 crore for opening a new screen.
To add 39 screens, the company will have to invest around Rs100 crore. Elaborating on the plans, Tandon was quoted by PTI as saying: “Post March 2018, we have already tied up in terms of signed agreement for another 79 properties with 461 screens and 85,955 seats. Once this pipeline is implemented, we will have 207 properties, 976 screens, 2,11,927 seats.”
Last month, Inox Leisure reported 28.56 per cent increase in consolidated net profit at Rs 32.09 crore for the first quarter ended 30 June. Its total income grew 14.83 per cent to Rs 389.72 crore during the quarter under review as against Rs 339.36 crore in the same quarter last fiscal.