Shares of PVR Inox were trading in the green on 15 November after the company announced opening 10 new screens across 2 new multiplexes.
The company has opened a 6-screen multiplex at the newly constructed Jio World Center, Mumbai, and a 4-screen multiplex at Utkal Kanika Galleria Mall in Bhubaneswar, Odisha.
The multiplex at Jio World Center in Mumbai has the latest and most advanced 4K Laser Projection System, Next-Gen 3D Screens, and Dolby Atmos Surround Sound. The multiplex at Utkal Kanika Galleria Mall, Bhubaneswar, is also equipped with the best theatrical equipment, including a 4K Laser Projection System, Next-Gen 3D Screen, and Dolby 7.1 immersive audio.
Moreover, the new multiplex, Maison INOX in Jio World Center, has a total seating capacity of 790 people. The 6-screen multiplex includes 2 Insignia screens, 1 IMAX screen, and 3 regular screens.
On the other hand, the 4-screen multiplex at Utkal Kanika Galleria Mall, Bhubaneswar, has a total seating capacity of 682 people and is the first cinema with the city’s latest 4K Laser screens.
With the latest addition of 10 new screens, the company has 345 screens from 76 theatres in Western India and 138 screens from 36 multiplexes in Eastern India. The company now operates the largest multiplex network with 1,711 screens across 359 properties in 114 cities across India and Sri Lanka.
Ajay Bijli, Managing Director of PVR INOX Limited, said, “Right at the start of the festive season with a robust content lineup, we are proud to open 10 screens in two different regions of our country with their unique set of audiences. PVR INOX strives to develop cinemas as social spaces and ideal out-of-home entertainment destinations with a view to make them more experiential and immersive to meet the growing aspirations of consumers with their unique movie-going preferences’.”
The company opened a 5-screen multiplex in October at Elan Mercado, Sector 80, NH-8, Gurugram, Haryana.
In its quarterly report for the July-September quarter, the company reported a net profit of Rs 166.3 crore for the quarter under review against Rs 81.6 crore net loss reported in the previous quarter of the same fiscal year.
At 10:57 am, the shares of PVR INOX Ltd were trading 0.44% higher at Rs 1,644.95 on the NSE.