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BookMyShow turns profitable after recording operating revenue nearing Rs. 1000 crores
BookMyShow’s operating revenue was recorded to be Rs. 976 crore in the year ended March 31, substantially more than Rs 277 crore that it recorded in FY22 as mentioned by Toffler.
Last year, BMS recorded a loss of Rs. 92.2 crore. However, this year the company posted a net profit of Rs. 85.72 crore. (Representative image by Jon Tyson via Unsplash)
Online entertainment ticketing company BookMyShow has recorded a net profit in FY23 after a incurring a loss last year due the effects of rebounding from the pandemic.
BookMyShow’s operating revenue was recorded to be Rs. 976 crore in the year ended March 31, substantially more than Rs 277 crore that it recorded in FY22 as mentioned by Toffler.
Last year, BMS recorded a loss of Rs. 92.2 crore. However, this year the company posted a net profit of Rs. 85.72 crore.
The turnaround can be largely attributed to the money made via ticket bookings comprising 63 percent of total operating revenue. Income from ticket sales was recorded to be Rs. 613 crore in FY23, up from Rs 218 crore in FY22.
Other than ticket bookings, other streams such as advertising, streaming and food and beverage sales among other non-operating income contributed Rs 1,026 crore in FY23 to the overall revenue, a large increase from Rs 302 crore in FY22.
BookMyShow also expanded its live events business, with income from live events increasing to Rs 237 crore, which was only Rs 25 crore in FY22.
SPOTLIGHT
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