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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.
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