<p>Bengaluru: PVR Inox reported a bigger-than-expected fourth-quarter loss on Tuesday, hurt by a lack of interest in Bollywood releases.</p>.<p>The company reported a consolidated net loss of 1.3 billion rupees ($15.6 million) for the March quarter, missing analysts' estimate of a loss of 835.9 million rupees, as per LSEG data.</p>.<p>The company was formed by a merger of PVR and Inox in February 2023, and the results are not comparable year-over-year.</p>.<p>PVR Inox had posted a profit of 128 million rupees last quarter.</p>.<p>The quarter ended March 2024 marks PVR Inox's weakest quarter in the year, the company said.</p>.<p>The company flagged "significant volatility" in box office collections, with demand muted despite major Bollywood releases like <em>Fighter</em>, <em>Shaitaan</em> and <em>Article 370</em>.</p>.Public sector banks' total profit crosses Rs 1.4 lakh crore in FY24.<p>It also added that the ongoing general election has impacted the flow of new releases, and that expects it to stabilize by mid-June.</p>.<p>Its occupancy slipped to 22.6 per cent from 25.2 per cent in the December quarter.</p>.<p>Coupled with these factors, it saw a 2 per cent drop in average ticket price, prompting a near 19 per cent sequential drop in revenue.</p>.<p>During the year, the company opened 130 new screens and closed 85 screens. The company said plans to shut down underperforming cinemas to reduce costs.</p>.<p>It also said it would pursue box office initiatives like screening alternate events like film festivals and sports, and was evaluating monetising real estate assets in a bid to become net debt free over the next few years.</p>.<p>PVR Inox's shares, which were up 1 per cent ahead of results, dropped 2.3 per cent post results. ($1 = 83.5106 Indian rupees) </p>
<p>Bengaluru: PVR Inox reported a bigger-than-expected fourth-quarter loss on Tuesday, hurt by a lack of interest in Bollywood releases.</p>.<p>The company reported a consolidated net loss of 1.3 billion rupees ($15.6 million) for the March quarter, missing analysts' estimate of a loss of 835.9 million rupees, as per LSEG data.</p>.<p>The company was formed by a merger of PVR and Inox in February 2023, and the results are not comparable year-over-year.</p>.<p>PVR Inox had posted a profit of 128 million rupees last quarter.</p>.<p>The quarter ended March 2024 marks PVR Inox's weakest quarter in the year, the company said.</p>.<p>The company flagged "significant volatility" in box office collections, with demand muted despite major Bollywood releases like <em>Fighter</em>, <em>Shaitaan</em> and <em>Article 370</em>.</p>.Public sector banks' total profit crosses Rs 1.4 lakh crore in FY24.<p>It also added that the ongoing general election has impacted the flow of new releases, and that expects it to stabilize by mid-June.</p>.<p>Its occupancy slipped to 22.6 per cent from 25.2 per cent in the December quarter.</p>.<p>Coupled with these factors, it saw a 2 per cent drop in average ticket price, prompting a near 19 per cent sequential drop in revenue.</p>.<p>During the year, the company opened 130 new screens and closed 85 screens. The company said plans to shut down underperforming cinemas to reduce costs.</p>.<p>It also said it would pursue box office initiatives like screening alternate events like film festivals and sports, and was evaluating monetising real estate assets in a bid to become net debt free over the next few years.</p>.<p>PVR Inox's shares, which were up 1 per cent ahead of results, dropped 2.3 per cent post results. ($1 = 83.5106 Indian rupees) </p>