India's PVR INOX hits over 16-month low on Q4 loss

PVR INOX

16/05/2023 06:22

** Shares of PVR INOX Ltd  PVRL.NS  fall 4.2% to 1,403.3
rupees, lowest since Jan. 2022, before paring losses to ~3%
    ** In its first report post PVR-INOX merger, co posts a 3.33
bln rupees ($40.7 mln) loss due to impairment and other charges
related to closing some cinemas
    ** On a pro-forma basis, PVR INOX's total income from all
sources rose 33%, but total costs rose 34%
    ** Stock trading and has closed below 50-, 100- and 200-day
exponential moving avgs since Feb. 20
    ** Avg rating of 25 analysts close to equivalent of 'buy;'
median PT is 2,088 rupees - Refinitiv data
    ** Stock now down ~17.5% YTD, the same as Gradiente
Infotainment  GRAD.BO  and slightly less than Zee
Entertainment's  ZEE.NS  20.5% drop

($1 = 81.7800 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))