ADVERTISEMENT

PVR Q2 Results Review - Weak Box Office Performance: ICICI Direct

The company's reported box office revenue of Rs 326.8 crore with low footfalls owing to weak content performance.

<div class="paragraphs"><p>An empty cinema hall. (Photo: Lloyd Dirks/ Unsplash)</p></div>
An empty cinema hall. (Photo: Lloyd Dirks/ Unsplash)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

ICICI Direct Report

PVR Ltd. reported a weak performance. The company's reported box office revenue of Rs 326.8 crore (down 38% QoQ) with footfalls down ~28% QoQ at 18 million and avverage ticket price at Rs 224 down~10% QoQ owing to weak content performance and promotional discounts during the quarter.

Ad revenues was at Rs 57.2 crore, down 9% QoQ and at ~61% of pre-Covid levels.

PVR reported Rs 230.3 crore of food and beverages revenues, down 29% QoQ, with spends per head at Rs 134, down 4% QoQ, given the weak offtake of F&B due to low footfall.

Ebitda loss (excluding Ind-Accounting standard 116) was at Rs 9 crore, given the tepid box office performance. On a reported basis, Ebitda was at Rs 153.7 crore (22.4% margin).

The reported loss was Rs 71.2 crore. PVR reported a net loss (without impact of Ind-AS 116) at Rs 56.6 crore.

Click on the attachment to read the full report:

ICICI Direct PVR Q2FY23 Results Update.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.