Kamal Gianchandani, CEO - PVR Pictures and Chief of Strategy, PVR Ltd, said on Wednesday that barring an initial blip, demonetisation has not had much of an impact on sales and that the situation was "back to normal".
Speaking to CNBC-TV18, Gianchandani said that there had been a drop in admissions to movie theatres soon after Prime Minister Narendra Modi had made popular bank notes illegal on November 8. However, the situation started to improve within three days of the decision, he said.
Calling it a rapidly evolving situation, he said, "The percentage of sales through online channels had risen to 58 percent since the demonetisation announcement, while offline cash payments had significantly reduced from 55 percent to 25 percent as of December-end."
Gianchandani said that F&B sales had shown a similar trend post demonetisation, suffering initially but stabilising in recent weeks with significant sales being done through cash over the counter, adding that there had been "absolutely no reduction''.
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