PVR Result Update
PVR Q3 Company’s net loss of 491 million rupees VS profit 363 million (YOY), estimated loss of 2 billion.
Q3 revenue of 454 million rupees VS 9.16 billion (YOY).
The company is in talks with movie producers to streamline content flow, the company negotiated with the vendors for an alternative payment schedule.
The company says yet to re-open 56 screens in 13 cinemas as of Jan 15, since certain rental negotiations are currently on-going.
The company has reasonable liquidity to meet all its debt & interest obligations for the next few months.
The company says settlement reached with landlords for 88% of cinemas for complete or partial waiver/discount for Covid -19 lockdown period.
Impact on PVR
Immediate support 1400, above 1500 stock price is likely to move for 1550-1600 target. Below 1400 marks price may correct for 1320.
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