Connect with us


With virtually no sales in the first quarter, lower costs did not significantly save PVR



With the closure of cinemas due to the covid-19 health crisis, multiplex revenues have dried up. PVR Ltd’s June quarter results show consolidated revenue fell 98.6% year-on-year for 12.7 crore. The sale of packaged popcorn and the distribution of digital film rights contributed to the revenues.

In this situation, PVR had no choice but to focus on cost reduction. He said his monthly operating expenses in the June quarter were around 32 crore per month. Note that this behaved better than 40-45 crore per month guidance provided at start of lockdown. Overall, the fixed operating expenses of the PVRs decreased by 78%, which was obviously much slower than the rate of decline in revenues.

Much like Inox Leisure Ltd, PVR also did not make cash payments on rentals and CAM fees to mall developers during the lockdown. CAM is the abbreviation for maintenance of common areas. Although PVR has fully provisioned CAM in its income statement and adopted a prudent accounting practice.

According to an analyst requesting anonymity, the difference in accounting method in the recognition of rental and CAM expenses resulted in a reported EBITDA loss of Rs116 crore for PVR in 1Q compared to a positive result. 34 crore Ebitda for Inox. “EBITDA is earnings before interest, taxes, depreciation, and amortization; a key measure of profitability for companies. Of course, Inox would have reported a loss of EBITDA as well if it had followed a similar accounting policy,” he added. analyst.

In addition, PVR has also obtained a rental concession worth 29.8 crore during the quarter. According to another analyst, Adjusted for the benefit of 29.8 crore regarding waiver of rental charges, the pre-tax loss of PVRs was 381.6 crore. “

PVR shares were trading flat early in Tuesday. In general, the lack of revenue visibility has kept feelings dull for multiplex stocks, including PVR. No wonder, stocks are still up to 38% away from their pre-covid highs seen in February. With no sign of multiplexes reopening yet, the current quarter is also a washout. In addition, it is uncertain how the footsteps would play out after the multiplexes restart, as movie watchers might refrain from going to theaters to avoid catching the virus.

In the meantime, PVR is doing its best to keep costs down. He said the fixed cost execution rate for the current quarter was between 22 and 25 crore per month, well below the average of 32 crore seen in the June quarter. Sure, this helps, but unless the revenue starts pouring in, just cutting costs won’t cut the ice on investors.



To subscribe to Mint newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content