PVR Inox, India’s leading multiplex chain, reported a consolidated net loss of ₹12 crore for the quarter ending September 30, 2024, a sharp contrast to the ₹166 crore profit it achieved in the same period last year. Revenue from operations dropped by nearly 19%, standing at ₹1,622 crore in Q2FY25, down from ₹2,000 crore in Q2FY24. The decline in revenue has been attributed to lower footfalls and weak box office collections, which have taken a toll on the entertainment industry.
The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a steep decline, falling to ₹479 crore from ₹700 crore in the same quarter last year. As a result, the EBITDA margin decreased to 29.55% from 35.34%. Despite the disappointing financial performance, PVR Inox’s stock showed a modest increase of over 1%, trading at ₹1,609 per share on the National Stock Exchange as of October 15, 2024. However, the stock has posted negative returns of nearly 10% over the last year.
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