Members of media and Jammu and Kashmir government officials wait to enter a multi-screen cinema hall run by India's leading multiplex chain Inox before its inauguration in Srinagar September 20, 2022. "Even the Q3 releases, which happen to take place during the festive season, are somewhat muted and underwhelming in the response they are getting," film producer and trade analyst Girish Johar said. In the first quarter, Inox reported a 29% occupancy rate, while PVR said its rate was 33.6% in the same period. The two chains are set to merge in an all-stock deal and become the country's largest exhibition company with 1,546 screens across 109 cities. And we have some major challenges with the content in Q2," Inox Chief Executive Alok Tandon said in an earnings call on Wednesday.

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