NEW DELHI, Feb. 12 -- Multiplex company Inox Leisure Ltd's December quarter was understandably weak. Operating revenue grew from '36 lakh to '14.88 crore sequentially. The revenue growth was on account of the restart of partial and restricted operations. Even so, year-onyear drop in revenue stands at a meaningful 97%. Last quarter, the occupancy rate at 3% was really low, and that hurt revenue performance.
Lower revenue means it is extremely difficult to cover costs. Even as costs remained much lower year-on-year, they are higher compared to where they were when theatres were closed. Excluding Indian Accounting Standard (Ind-AS) 116 impact, Inox reported operating losses of '79 crore during the quarter.
With operations restarting, Inox's ...