PVR shares decline nearly 5 % after Q4 earnings
Shares of multiplex chain operator PVR on Tuesday fell nearly 5 per cent after the company reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 2020. On BSE, the stock declined 4.61 per cent to Rs 1,106, while on NSE it dropped 4.65 per cent to Rs 1,107.05.
PVR on Monday reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 2020, as the film exhibition business was impacted because of COVID-19 pandemic. The company had posted a net profit of Rs 46.75 crore in the January-March quarter a year ago, PVR said in a BSE filing.
Revenue from operations during the quarter under review stood at Rs 645.13 crore. It was Rs 837.63 crore in the corresponding quarter a year ago. Beginning March 11, 2020, the company started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, PVR said in a statement.
