PVR Q2 Review - Confident Of Healthy Revival: IDBI Capital
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IDBI Capital Report
PVR Ltd. reported its Q2 FY22 results better than our expectation, revenues of Rs 1,203 million vs Rs 405 million in Q2 FY21 and Ebitda loss stood at Rs 1,154 million was also better than our expectations.
Despite challenging times the company is able to double its revenues QoQ and lower its losses. With the opening of cinemas across the country, easing of lockdown and line-up of robust content we expect PVR to witness recovery in coming quarters.
We expect the company to add screens to pre-covid level in FY23. This coupled with increasing contribution from non-cinema content (like T20 cricket and gaming), receding competition from single screen theatres and strong screen addition in long run prompts us to be positive on the stock.
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