ICICI Direct: PVR Q2 Review - Occupancy Traction Post Reopening Holds Key
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ICICI Direct Report
PVR Ltd. reported a washout Q2 FY21 as expected. As a result of cinemas being shut, revenue came in at Rs 40.5 crore (95.8% YoY de-growth).
Box office revenue of Rs 60 lakh (income from Sri Lanka property) was reported while no ad revenues were reported.
Food and beverage income was Rs 3.7 core whereas Rs 27.5 crore of movie distribution rights was reported.
The company has invoked Force Majeure leading to no rental expenses.
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