PVR business this season has been on upswing as it has not been affected by Indian Premiere League compared to previous years, says Pramod Arora, President & CEO of the company in an interview to CNBC-TV18. However, Arora expects a rise in the average ticket prices in the near term in-line with the inflation anticipated at 7-8 percent.
Multiplex chain operator PVR on Tuesday said it has completed acquisition of a controlling stake in Cinemax India for Rs 395 crore. In an interview to CNBC-TV18, Ajay Bijli, CMD of PVR talked about the operational synergies. He said that as the final acquisition has happened, we are looking at getting lots of operational efficiencies.
Cinemax has demerged its business into two arms, one dealing with the multiplex business and the other having exhibition rights. Jitendra Mehta, Group CFO of Cinemax told CNBC-TV18, the company at present is willing to invest only Rs 8 to Rs 10 crore every year in Cinemax Properties.