Maharashtra Government allowed cinema halls/theatres/multiplexes to open with 50 percent capacity from November 5.


                               

PVR share price gained 5 percent intraday on November 5 as research house CLSA has maintained buy with a target at Rs 1,600 per share.

The company's revenues were mainly from movies distribution. The rent negotiations are ongoing, with settlements in 60% of cinemas, said CLSA.

The company highlighted encouraging initial footfall trends from Bengal and forecast 30% occupancy by FY23, it added.

The company's consolidated revenue for the quarter ended September 30, 2020, was at Rs 111 crore compared to Rs 979 crore during the corresponding period of last year.

Consolidated loss after tax for the quarter was Rs 184 crore as compared to a profit of Rs 48 crore in the year-ago period.

Consolidated EBITDA loss for the quarter was Rs 14 crore against a positive EBITDA of Rs 324 crore in the same period last year.

Maharashtra Government allowed cinema halls/theatres/multiplexes to open with 50 percent capacity from November 5.

At 09:51 hrs PVR was quoting at Rs 1,153.35, up Rs 37.40, or 3.35 percent on the BSE