PVR Q3FY22 results: PVR posted a loss of 22 crores in the December quarter, better than expected

PVR Q3FY22 results : Multiplex operator PVR has posted a loss of Rs 21.9 crore during the December quarter. On the other hand, the company had a loss of Rs 136.7 crore in the same quarter a year ago. At the same time, the company’s revenue during the third quarter of the current financial year stood at Rs 642.3 crore, as compared to Rs 63.4 crore in the same period a year ago.

EBITDA margin of 10.3 per cent

Analysts in the CNBC-TV18 poll had projected a quarterly loss of Rs 58 crore on revenue of Rs 528 crore. PVR posted EBITDA earnings of Rs 66.2 crore during the October-December period, as against an EBITDA loss of Rs 108.8 crore in the same period a year ago. PVR’s EBITDA margin stood at 10.3 per cent during the December quarter.

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Analysts had expected the company’s EBITDA to be Rs 63 crore and EBITDA margin of 12 per cent.

Consolidated Income Rs 709.71 crore

The company’s consolidated income stood at Rs 709.71 crore during the December quarter as against Rs 320.13 crore in the year-ago quarter. PVR said, “The impact of Kovid-19 on cinema operations in the third quarter of FY22 was less as compared to the previous quarters.”

“We got some big films during the quarter after almost 19 months, which helped the business get back on track,” the company said. The company said that there was a sharp return to profitability, which reflects the strength of our business model.

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audience returned to cinemas

PVR Ltd. Ajay Bijli, Chairman-cum-Managing Director, said, “During the last quarter, our business demonstrated its strength and vigor. The pace of our business from October to December shows that as new content becomes available, our audiences return to theatres.”

However, the company said that the extension of restrictions in the last week of December had a negative impact on cinema operations as the Kovid-19 infection started increasing. “Had the last week of December not been affected by Omicron and sanctions, our December figures would have been better,” Bijli said.

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