PVR, Inox Leisure share prices plunge up to 11% after reporting Q4 loss
Published On: Tuesday, June 9, 2020 | By: Team KnowMyStock
Shares of entertainment exhibition companies PVR and Inox Leisure declined up to 11 per cent on the BSE on Tuesday after reporting weak earnings for the quarter ended March 2020 (Q4FY20), impacted by the outbreak of Covid-19 in the last month of the quarter.PVR share price slipped up to 8 per cent to touch the day’s low of Rs 1,064 apiece on BSE, while Inox Leisure share price fell 11 per cent to Rs 248 a piece in today’s session. PVR reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 31The company had posted a net profit of Rs 46.75 crore in the January-March quarter a year ago. Consolidated revenues were down 22 per cent YoY at Rs 662 crore as compared to Rs 846 crore during the corresponding period of last year.PVR expenses were at Rs 731.84 crore in the fourth as against Rs 771.27 crore a year ago. The board of directors of PVR has approved the fundraising of up to Rs 300 crore through a rights issue.
Inox Leisure reported a consolidated net loss of Rs 82 crore in Q4FY20, against a net profit of Rs 48 crore in the previous year quarter.Operational revenues declined 22 per cent year-on-year (YoY) to Rs 372 crore from Rs 479 crore in the corresponding quarter of the previous fiscal.
Source: Business Standard,Financial Express,money control
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