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PVR Q3 Review - FY23 To Witness Robust Growth: IDBI Capital

PVR Q3 Review - FY23 To Witness Robust Growth: IDBI Capital

<div class="paragraphs"><p>Spectators inside PVR watching a movie. (Source: BloombergQuint)</p></div>
Spectators inside PVR watching a movie. (Source: BloombergQuint)

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IDBI Capital Report

PVR Ltd. reported its Q3 FY22 results better than our expectation - revenue of Rs 6,142 million versus Rs 5,589 million in Q3 FY21 and Ebitda at Rs 380 million was also better than our expectations. The release of blockbuster movies, increase in average ticket price and food price per person and ease of restrictions led to robust growth.

Going forward, PVR might see impact in Q4 led by omicron impact. However, we believe this is a short term impact. In long run, we expect the company to witness normalisation in FY23E.

In addition, based on improvement in ticket price and spend per head (on food) we expect the company to witness strong revenue and profit growth in FY23 and FY24.

Click on the attachment to read the full report:

IDBI Capital PVR Q3FY22 Result Update.pdf

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