Buzz Preview: India's PVR to narrow qtrly loss; lack of hits an overhang

PVR INOX

17/10/2022 08:10

** Shares of multiplex operator PVR  PVRL.NS  rise
marginally to 1,694.30 rupees ahead of earnings expected later
on Monday.
    ** The company is set to merge with rival INOX  INOX.NS 
soon, creating the country's largest cinema operator chain
 urn:newsml:reuters.com:*:nL3N2VV116
    ** PVR expected to post a loss of 99.22 million rupees,
compared with loss of 1.53 bln rupees last year, as per
Refinitiv data.
    ** While the Hindi-language film industry is expecting some
recovery from pre-Covid levels, a steady rise in streaming, and
slew of flops earlier this year could dent outlook 
    ** ElaraCapital expects box office revenue to decline 41.5%
sequentially, and 35% versus pre-Covid levels
    ** PVRL's net box office revenue for Q1 was up 16% at 5.3
mln rupees 
    ** Expects Hindi Box Office to see sharp reversal only
towards February-March, when the content type alters -
ElaraCpital
    ** About 201,348 shares changed hands vs 30-day avg of 1.1
mln shares    
 (Reporting by Nivedita Bhattacharjee in Bengaluru)
 ((Nivedita.Bhattacharjee@thomsonreuters.com; Mobile: +91
9920455129; Twitter: @tweetsfromnivi;))