PVR, India’s top multiplex chain plunges into the red
PVR, India’s top multiplex chain plunges into the red
India’s top multiplex chain PVR Inox plunged into the red for the second straight quarter, with losses to Rs 178.7 crore in April-June from Rs 81.6 crore a year ago due to no-show by big Bollywood films and fewer box office successes weighed.
Reportedly, PVR Inox Q1 net loss spreads to Rs 178 crore as Bollywood fails to cheer box office
The June 27 release, Kalki featuring south superstar Prabhas, Deepika Padukone, Amitabh Bachchan, among others emerged as the biggest movie of the year, contributing nearly 16 percent to the quarterly box office in just four days and grossing over Rs 1,000 crore globally to date, PVR Inox said.
Recent reports reveal that
PVR Inox had suffered a loss of Rs 130 crore for the March quarter of FY24. As per Analysts, they had pegged the company’s Q1 FY25 losses at Rs 174 crore.
The company had revealed a loss running to Rs 130 crore for the March quarter of FY24 and the Analysts had pegged the company’s Q1 FY25 losses at Rs 174 crore.
Further, Analysts also anticipated an eight percent year-on-year (YoY) decline in revenue due to below-par performance of movies and predicted the torpidity to continue in Q1 FY25 due to content lack.
Meanwhile a few A small surprises brought cheer to the industry sans big successes.
News Edit K.V.Raman
