After being battered by the pandemic, it has been a record month for multiplex theatre operators. The Multiplex Association of India (MAI), the apex body for the industry, revealed that it has made ₹1,500 crore in box office revenues in March, its best performance in a month ever (the best earlier was ₹1,200 crore).
The final numbers for April are still being collated but they are expected to remain at the same level as March owing to pent-up demand. The industry believes it is now poised to hit box office revenues of ₹15,500 crore in FY23, beating its peak performance just before the pandemic in FY20.
Kamal Gianchandani, president of the association and also head of business strategy and planning for PVR Ltd, was pleased with the results. "With all screens open and no government restriction in capacity and with moviegoers coming back in huge numbers, this March has been a record year for the industry," he said.
This story is from the May 19, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 19, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
NSE shares up after bonus, dividend
The National Stock Exchange (NSE), the country's top bourse, has seen its market value soar by nearly 85,000 crore to 3.21 trillion after declaration of a four-for-one bonus issue and dividend of ₹90 per share.
China is the story of moment in EM equities: Wood
Christopher Wood, global head of equity strategy at Jefferies, is turning bullish on Chinese equities and believes China is the story of the moment in the emerging market equity space as things stand.
Sebi cracks whip on 2nd SME, bars promoter for diverting IPO funds
The Securities and Exchange Board of India (Sebi) on Friday barred Varanium Cloud and its managing director for allegedly diverting funds raised through initial public offer (IPO) to other entities and other fraudulent practices, the second such action by the markets regulator within a week.
Spike in SIP churn as investors rebalance
Registrations rose 48% in April, account closures 42%; experts say rotation at play
Ensure donations claimed in tax returns match Form 10BE figures
Retain Form 10BE and related documents for at least 4 years to validate Section 80G claims
SBI remains a bankable bet for long-term gains
Seen rising 22% over next year, but rally could be gradual, given rich valuations
Ahead of Paris Olympics, will Schengen visa woes ease?
Ahead of the 2024 Paris Olympics, which begin on July 26, more and more Indians are charting out trips to the Schengen countries, but the going hasn't been smooth.
The case of 'missing' numbers in CSR data
Companies listed on the NSE spent a record ₹15,524 cr on CSR programmes in 2022-23
A NEW MAUL GAME
Batters are mauling bowlers this IPL like never before, as the impact player rule effectively gives every team 12 players. Where is it taking the game?
IIP growth slows to 4.9% in March
Drop comes on the back of slowdown in mining output SHIVA