PVR shares zoom 4% as Q4 net loss narrows

NEW DELHI – Shares of PVR jumped 3.5 per cent in early trade on Tuesday as the multiplex chain operator reported a narrowing of consolidated net loss to Rs 105.49 crore during the fourth quarter ended March 2022.

The company had posted a net loss of Rs 289.21 crore in the January-March quarter a year ago.

PVR’s scrip rose to a high of Rs 1,765 as against Rs 1,704.95 at previous close on the BSE.


Its revenue from operations rose by nearly three-fold to Rs 537.14 crore during the quarter under review as against Rs 181.46 crore in the corresponding quarter last fiscal.

Its total expenses were at Rs 731.17 crore, up 43.91 per cent in Q4FY22 as against Rs 508.07 crore in the year-ago quarter.

The multiplex chain is planning to open 125 new screens across India in the current financial year as it kick-starts an ambitious growth plan after the Covid-19 disruption.

In the last fiscal, the company had opened 29 new screens across five properties but now the multiplex major plans to push the pedal to grab market share and increase reach.

The company expects to fund the expansion with internal accruals though it has available liquidity of Rs 667 crore – including undrawn working capital lines.

Chief financial officer Nitin Sood told ET that the company expects to spend Rs 350-400 crore in capital expenditure for the new screens this year.

“We will have a capex of around Rs 350-400 crore this year, which will be taken care of by internal accruals,” Sood said.

Talking about the company’s performance in the final quarter ended March 31, 2022, Sood said that while January and February were total washout months due to Omicron and unavailability of films, March has been extremely good in terms of admissions as well as food and beverages sales.