UFO Moviez Reports Q4&FY24 Results

UFO Moviez, India's largest in-cinema advertising platform, with the power to impact almost 1.9 billion viewers annually through 3,859 screens under the PRIME and POPULAR channels across 1,410 cities & towns, has, announced its financial results for the quarter and financial year ended March 31, 2024.

Financial Highlights:

Quarter ended March 31, 2024

During the quarter, the business remained steady despite the mixed box office performance of movie releases. Theatrical and Advertisement revenue saw a notable growth on a Y-o-Y basis. Additionally, the screen network has shown substantial improvement, surpassing 3,800 screens after over five years.

Consolidated Revenues grew by 35% from ₹ 884 mn in Q4FY23 to ₹ 1,192 mn in Q4FY24,

EBITDA grew by 32% from ₹ 115 mn in Q4FY23 to ₹ 152 mn in Q4FY24,

PBT improved from negative ₹ 7 mn in Q4FY23 to ₹ 77 mn in Q4FY24,

PAT grew to ₹ 60 mn versus negative of ₹ 12 mn in Q4FY23.

Year ended March 31, 2024

Consolidated Revenues grew by 3% from ₹ 3,978 mn in FY23 to ₹ 4,101 mn in FY24,

EBITDA grew by 100% from ₹ 339 mn in FY23 to ₹ 676 mn versus in FY24,

EBITDA margin improved by 796 bps from 8.52% in FY23 to 16.48% in FY24,

PBT improved from negative ₹ 145 mn in FY23 to ₹ 227 mn in FY24,

PAT grew to ₹ 164 mn versus negative ₹ 132 mn in FY23.

"FY24 saw a diverse range of film releases across languages and genres, from big-budget spectacles to regional gems and sleeper hits. The industry's resilience in meeting changing consumer demands was evident," said Rajesh Mishra, Executive Director and Group CEO. " Despite significant content volatility this year, the overall business saw improvement, marking FY24 the first profitable financial year since FY20. The cost optimization measures along with the steady theatrical revenue, improved advertising revenues and expanded advertisement screen network has helped to strengthen the financial position and market presence. As we move forward, with the upcoming movies line-up, we are optimistic to continue the positive momentum."

Shares of UFO Moviez India Limited was last trading in BSE at Rs. 123.10 as compared to the previous close of Rs. 129.40. The total number of shares traded during the day was 59281 in over 1146 trades.

The stock hit an intraday high of Rs. 137.00 and intraday low of 122.00. The net turnover during the day was Rs. 7676558.00.

Source : Equity Bulls

Keywords

UFOMoviezIndia INE527H01019 Q4FY24 FY2024 ResultUpdate FY24