India's PVR INOX falls after weak Q3 results

PVR INOX

31/01/2024 09:26

** Shares of PVR Inox Ltd  PVRL.NS  fall as much as 3.1% to
1,416.6 rupees, their lowest since mid-July
    ** India's largest multiplex operator reports 92% q/q dip in
Q3 profit
    ** Revenue down 22% q/q due to lower movie launches during
Oct-Dec qtr and ICC Men's Cricket World Cup
    ** Co says results not comparable with last year
    ** Over 1.3 mln shares traded, 1.7x the 30-day avg volume
    ** Twenty-two analysts covering PVRL rate it "buy" on avg;
median PT is 2,037.5 rupees - LSEG data
    ** Stock trims some losses, last down 1%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))