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PVR Inox Hits 52-Week Low, Q4 Net Loss Widens to Rs 333, Shares Down 4%

PVR Inox to close more than 50 theaters over the next six months.

Shares of PVR Inox touched a 52-week low of Rs 1,408.50, down 4% on the BSE in intraday trade on Tuesday after the company reported that its consolidated net loss for the March quarter (Q4FY23) widened to Rs 333 crore. The chemical company reported a net loss of Rs 105 crore in the same period last year.

PVR-Inox reported its first quarterly results after the merger. The company only provided financial information for the combined company.

In Q4FY23, the company’s consolidated reported revenue was Rs 1,143 crore, up 34% YoY and down 21% QoQ. Reported Ebitda was 24.5%, compared to 24.6% a year earlier.

According to management, the box office has been highly volatile quarter-over-quarter. They believe that the two major factors that hurt the industry in FY23, namely the poor performance of Hindi films and fewer Hollywood releases, will ease in FY24.

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