PVR Inox shares turn red after reporting net loss of ₹12 crore in Q2 FY2024

Multiplex firm PVR Inox Ltd reported a consolidated net loss of ₹12 crore for the quarter ended September 30, 2024. This marks a significant decline compared to a net profit of ₹166 crore in the same period last year.

For the consolidated performance of PVR Inox in Q2 FY2024, here are the key financial metrics in crore:

  • Revenue from operations stood at ₹1,622.1 crore, down from ₹1,999.9 crore in Q2 FY2023.
  • Total income amounted to ₹1,663.9 crore, compared to ₹2,023.7 crore in the same quarter last year.
  • Profit before tax for the quarter was a loss of ₹14.7 crore, a major shift from the profit of ₹221.7 crore in Q2 FY2023.
  • Net loss after tax was ₹12.1 crore, compared to a net profit of ₹166.2 crore in the same quarter last year.
  • Total expenses increased to ₹1,678.6 crore in Q2 FY2024 from ₹1,802.0 crore in Q2 FY2023.

This challenging quarter for PVR Inox was attributed to weaker box office performance and fewer blockbuster releases, impacting the company’s overall financials. Following the results, the company’s shares turned red, reflecting investor concerns.

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