PVR Cinemas, a film exhibitor announced the opening of a 4-screen property in Narsipatnam, a town in Visakhapatnam district of Andhra Pradesh.
PVR currently operates the former Sreekanya Cinemax as one of its properties, making it the town's largest cinema theatre. The cinema has a seating capacity of 1,188 audiences. The property is equipped with Clarus Screens from Harkness and Christie 2K projectors which will deliver a good viewing experience to moviegoers. For quality sound experience, the audio host advanced Dolby 7.1 and Dolby ATMOS will allow high-definition audio.
With this launch, PVR Cinemas consolidated its foothold in Andhra Pradesh with 13 screens in 3 properties and 296 screens across 48 properties in South. PVR strengthened its growth momentum in FY 2021-2022 with 860 screens at 179 properties in 73 cities (India and Sri Lanka), as per the company's press release.
The company reported a consolidated net loss of Rs 153.27 crore in Q2 FY22 as against a net loss of Rs 184.06 crore in Q2 FY21. Net sales soared 197.5% to Rs 120.32 crore in Q2 September 2021 over Rs 40.45 crore in Q2 September 2020.
Shares of PVR rose 0.57% to close at Rs 1,555.60 on BSE yesterday, 14 January 2022. PVR is a world leader in the multiplex business.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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