PVR Q3 Review: Revival In Occupancy Key To Earnings, Says ICICI Direct

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ICICI Direct Report

PVR Ltd. reported losses for fourth consecutive quarter as expected. While cinemas reopened during the quarter, low footfalls owing to occupancy limit and still prevailing Covid-19 situation led to marginal revenues.

Box office revenue of Rs 13.4 crore was reported while food and beverages income was Rs 14 crore.

The company has negotiated rentals post reopening with landlords. Ebitda loss (ex-Ind-Accounting Standard 116) was at Rs 126.8 crore.

It reported a net loss (ex-Ind-AS 116) at Rs 136.6 crore.

On a reported basis, net loss was at Rs 49.1 crore as it accounted Rs 266.8 crore of rent concession as other income.

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