PVR INOX came in loss,save their sinking boat?
PVR INOX came in loss, will sunny deol and Shah Rukh Khan's films be able to save their sinking boat?
PVR Inox net loss: India's largest multiplex chain PVR Inox has added 168 screens to its network in the last financial year. PVR Inox is now focusing more on South india and 44% of these screens have been added in South. But before this, PVR Inox, a company looking for blockbuster films at the box office, has suffered a major setback
Actually, this company running cinema halls has released the results of the first quarter of the current financial year. The company has incurred a loss of Rs 81.6 crore during the april to june quarter. The company, formerly known as PVR Limited, had earned a profit of Rs 53.4 crore in the june 2022 quarter.
PVR and Inox to merge in february 2023
Inox told the stock market that its operating income stood at Rs 1,304.9 crore, compared to Rs 981.4 crore in the same quarter of the previous financial year. PVR and INOX are both popular movie theaters which will be merged in february 2023.
Recovery was on the cards for PVR cinemas as people stepped out of their homes and entered theatres. But the financial condition of the company was continuously deteriorating due to which the share price of PVR was falling.
Post merger results
The company said, “The date of merger of PVR Inox has been considered as january 1, 2023. Therefore, the results of PVR and Inox for the fourth quarter of the financial year 2022-23 and the first quarter of the current financial year were given on a merger basis. These should not be compared with the first quarter of FY 2022-23.
Will sunny deol, Shahrukh give a boost?
PVR Inox's total income stood at Rs 1,329.8 crore and total expenditure at Rs 1,437.7 crore in the june quarter. In such a situation, expectations are being expressed from the big stars of Bollywood. Experts believe that sunny deol and Shah Rukh Khan will give a boost to PVR Inox.
In fact, amidst all the ups and downs, PVR Inox is hopeful of Bollywood's king Khan Shah Rukh Khan's film Jawan. Nitin Sood, Group Chief Financial Officer (CFO) of PVR Inox, has also told Moneycontrol about this.
Know what the CFO said
He said, “Some hollywood films did well in the last quarter with The kerala Story. We expect the box office momentum to pick up from august onwards. The July to september quarter is likely to get a boost due to films like Gadar 2 and Jawan.”
PVR Inox net loss: India's largest multiplex chain PVR Inox has added 168 screens to its network in the last financial year. PVR Inox is now focusing more on South india and 44% of these screens have been added in South. But before this, PVR Inox, a company looking for blockbuster films at the box office, has suffered a major setback
Actually, this company running cinema halls has released the results of the first quarter of the current financial year. The company has incurred a loss of Rs 81.6 crore during the april to june quarter. The company, formerly known as PVR Limited, had earned a profit of Rs 53.4 crore in the june 2022 quarter.
PVR and Inox to merge in february 2023
Inox told the stock market that its operating income stood at Rs 1,304.9 crore, compared to Rs 981.4 crore in the same quarter of the previous financial year. PVR and INOX are both popular movie theaters which will be merged in february 2023.
Recovery was on the cards for PVR cinemas as people stepped out of their homes and entered theatres. But the financial condition of the company was continuously deteriorating due to which the share price of PVR was falling.
Post merger results
The company said, “The date of merger of PVR Inox has been considered as january 1, 2023. Therefore, the results of PVR and Inox for the fourth quarter of the financial year 2022-23 and the first quarter of the current financial year were given on a merger basis. These should not be compared with the first quarter of FY 2022-23.
Will sunny deol, Shahrukh give a boost?
PVR Inox's total income stood at Rs 1,329.8 crore and total expenditure at Rs 1,437.7 crore in the june quarter. In such a situation, expectations are being expressed from the big stars of Bollywood. Experts believe that sunny deol and Shah Rukh Khan will give a boost to PVR Inox.
In fact, amidst all the ups and downs, PVR Inox is hopeful of Bollywood's king Khan Shah Rukh Khan's film Jawan. Nitin Sood, Group Chief Financial Officer (CFO) of PVR Inox, has also told Moneycontrol about this.
Know what the CFO said
He said, “Some hollywood films did well in the last quarter with The kerala Story. We expect the box office momentum to pick up from august onwards. The July to september quarter is likely to get a boost due to films like Gadar 2 and Jawan.”