PVR Inox Ltd reported a consolidated net loss of Rs 11.3 crore for the quarter ending September 30, 2024, as per the results released on Tuesday. This is a contrast to the net profit of Rs 166.3 crore recorded in the same quarter last year. However, the net loss has narrowed when compared to the Rs 178.7 crore loss in the previous quarter (ended June 30, 2024).
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The multiplex operator’s consolidated revenue from operations for Q2 stood at Rs 1,622 crore, a decrease of 18.9% compared to Rs 2,000 crore in the same period last year. Additionally, its earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 32.2% to Rs 479 crore, down from Rs 707 crore in the corresponding quarter last year. The EBITDA margin also declined to 29.5%, compared to 35.3% in the same period a year ago.
Key Q2 results (YoY):
- Revenue fell 18.9% to Rs 1,622 crore, versus Rs 2,000 crore.
- EBITDA declined 32.2% to Rs 479 crore, versus Rs 707 crore.
- EBITDA margin decreased to 29.5%, compared to 35.3%.
- Net loss of Rs 11.8 crore, compared to a net profit of Rs 166 crore.
In the April-June quarter, PVR Inox had posted a revenue decline of 8% to Rs 1,190.7 crore, and its net loss had widened to Rs 178.7 crore, compared to Rs 82 crore in the first quarter of FY24.
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Following the release of the Q2 results, shares of PVR Inox rose by 1.99% to Rs 1,621.7 on the NSE, as the narrowing of the net loss from the previous quarter appeared to positively impact investor sentiment. However, the stock has fallen 2.3% year-to-date and has declined by 7.5% over the last 12 months.
