The cinema chain operator launched a new five-screen property in Hyderabad, making it the 11th property in the city and crossing 300 screens in South India.
The company's 5-screen multiplex is located at Atrium Mall, Gachibowli in Hyderabad. With this launch, PVR Cinemas has consolidated its foothold in Hyderabad with 62 screens in 11 properties. It now has 301 screens across 49 properties in South.
Sanjeev Kumar Bijli, the joint MD of PVR, said, South will continue to be our focal point towards expanding our screen's presence in the region. Our screen presence in the South now occupies the leading share in our national circuit and we look forward to continue with our expansion plans in FY 2022-23 across the country.
PVR is the largest film exhibition company in India. It currently operates a cinema circuit comprising of 871 screens at 181 properties in 73 cities (India and Sri Lanka), serving over 100 million patrons annually.
On a consolidated basis, PVR reported net loss of Rs 10.18 crore in Q3 December 2021 compared with net loss of Rs 49.10 crore in Q3 December 2020. Net sales surged 1252.8% to Rs 614.15 crore in Q3 December 2021 over Q3 December 2020.
Shares of PVR advanced 2.84% to close at Rs 1,827.60 on Friday, 25 March 2022.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU