PVR INOX Q1 FY24 Earning updates
Another weak quarter from PVR-INOX, 1324 Cr revenue, 100 Cr EBITDA and -44 Cr PAT.
Improvement visible on QoQ basis, helped by strong perfomance of hollywood movies.
Footfalls improved by 11% QoQ, ATP up by 3%, SPH up by 9%. Advertising revenue is still subpar
July numbers looks much better, expected to have strong results in Q2 &Q3.
Expansion is on track for FY24, will add about 170 screens.
40-45% of new screens are in South India, entering smaller cities along with metro markets.
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