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PVR makes a spectacular flop with loss of Rs 71 crore in Q2

Sequentially, revenue fell 30 percent from Rs 981.40. The company had reported a profit of Rs 53.38 crore in the previous quarter.

October 17, 2022 / 03:08 PM IST
 
 
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Multiplex operator PVR on October 17 reported a consolidated net loss of Rs 71.23 crore for the quarter ended September 2022. This was nearly half of the loss of Rs 153.13 crore in the same quarter last year.

Its revenue from operations for the quarter stood at Rs 686.72 crore, an over five-fold jump from Rs 120.32 crore in the same quarter last year. The previous year was badly affected due to pandemic restrictions, so may not be exactly comparable.

Sequentially, revenue fell 30 percent from Rs 981.40 crore. The company had reported a profit of Rs 53.38 crore in the previous quarter.

The Indian multiplex industry along with Bollywood has been in a rough patch as streaming services and non-Hindi language rivals have started stealing the show. The impact is clearly visible on the numbers reported by PVR.