PVR share price down 2% a day after reporting Q4 loss of Rs 74 crore

PVR share price was down more than 2 percent in the morning trade on June 9, a day after the multiplex chain reported a consolidated net loss of Rs 74.61 crore for the March quarter.

After the coronavirus outbreak in India, theatres were the first to be ordered shut and stopped operations in the second week of March, resulting in no collections.

The stock has, however, surged over 32 percent in the last 15 days but was quoting at Rs 1,128.25, down Rs 31.25, or 2.70 percent, at 1044 hours. It touched an intraday high of Rs 1,161.00 and an intraday low of Rs 1,106.

PVR's revenue from operations during the March quarter stood at Rs 645.13 crore against Rs 837.63 crore in the corresponding period a year ago. The company posted a net profit of Rs 46.75 crore in the January-March quarter a year ago, PVR said in a BSE filing.

PVR expenses were at Rs 731.84 crore in the fourth as against Rs 771.27 crore a year ago.

According to Moneycontrol SWOT Analysis powered by Trendlyne, PVR has reported a decline in revenue in the last two quarters, with losses in quarterly profits.

However, Moneycontrol's technical rating of the stock is bullish, with technical indicators and moving averages favouring the scrip.