PVR rallies despite poor Q3 results

The stock of PVR, the leading movie exhibitor in the country, gained 3 per cent in the past week despite dull December quarter results. Subdued performance of South-based movies and tough macro-economic conditions had impacted the company’s performance.

PVR reported a single-digit revenue growth of about 8 per cent y-o-y to ₹915 crore due to weak footfalls in theatres.

The profit grew 7 per cent to ₹36 crore during the same period.

Box-office collections, which contribute over 50 per cent to the company’s revenue, took a hit due to weak performances of Tamil and Telugu films. The box-office collections registered a single-digit growth of 6 per cent y-o-y.

However, other business segments of the company performed better. Food and beverages revenue grew 13 per cent y-o-y and advertisement grew 8 per cent y-o-y, despite a slowing economy.