PVR Q4 Review - Recovery Likely From H2 FY22: ICICI Direct
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ICICI Direct Report
PVR Ltd. reported losses for a fifth consecutive quarter as expected.
While regional releases fared well, lack of bollywood content and limit to occupancy kept footfalls muted.
The box office revenue at Rs 87.9 crore was down 73.9% YoY while ad revenues were at Rs 13.6 crore (down 80% YoY).
The company reported Rs 56.6 crore of food and beverages revenues (down 67.7% YoY).
Ebitda loss (ex-India-accounting standard 116) was at Rs 127.5 crore.
It reported a net loss (ex-Ind-AS 116) at Rs 271.8 crore as the company recognised one-time deferred tax expense of Rs 113 crore.
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