Multiplex operator PVR Ltd on February 24 announced the launch of an 11-screen multiplex in Lucknow, the state capital of Uttar Pradesh.
The 11-screen "superplex", opened in Lulu Mall, is "Lucknow's biggest" and comes a month after the company announced merger with rival multiplex chain INOX, a press release stated.
With this launch, PVR has expanded its scale of operations in Uttar Pradesh to 158 screens in 32 properties, and consolidated the merged entity’s presence in North India with 438 screens in 100 properties, it added.
The multiplex in Lulu Mall includes "the multi-sensory 4DX format, premium large screen format P[XL], two auditoriums of PVR’s luxury format, LUXE along with 7 auditoriums with last row recliners", PVR said.
The multiplex has a seating capacity of 1,841 audiences, it noted. "We are delighted to partner again with The LuLu Group to announce the opening of our 11-screen Superplex in Lucknow which marks the 100th property in North under the combined portfolio of the PVR and INOX," PVR managing director Ajay Bijli said.
PVR had on January 19 said that the merger with INOX will be completed within FY23. The merger received a nod from National Company Law Tribunal (NCLT ), Mumbai Bench through a verbal order on January 12.
In the December 2022 quarter, PVR had reported a net profit of Rs 16 crore, as against a loss of Rs 10 crore in the year-ago period. The company's revenue from operations rose 53 percent on-year to Rs 940 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
