Inox Leisure Q2 Review - All Set For Revival: IDBI Capital
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IDBI Capital Report
Inox Leisure ltd. reported a better than expected Q2 FY22 results, revenue was Rs 474 million versus Rs 4 million in Q2 FY21. Ebitda (adj. for Ind-AS) declined in Q2 FY22 to Rs 645 million versus a decline of Rs 338 million in Q2 FY21, was also better than our expectation.
With the opening of cinemas across the country, easing of lockdown and line-up of robust content we expect INOL to witness recovery in coming quarters. We expect the company to add screens to pre-Covid level in FY23.
This coupled with increasing contribution from non-cinema content (like T20 cricket and gaming), receding competition from single screen theatres and strong screen addition pipeline prompts us to be positive on the stock
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