PVR Inox shares fall over 2% after Q4 earnings

New Delhi: Shares of PVR Inox Ltd (earlier known as PVR Ltd) on Tuesday fell by over 2 per cent after the company reported a consolidated net loss of Rs 333.99 crore for the fourth quarter that ended on March 31, 2023.

The stock declined 2 per cent to settle at Rs 1,435.15 on the BSE. During the day, it fell 4.12 per cent to hit its 52-week low of Rs 1,404.

At the NSE, it dipped 2.16 per cent to end at Rs 1,433.30.

The company had posted a net loss of Rs 105.49 crore in the January-March period a year ago, PVR Inox said in a regulatory filing on Monday.

Its revenue from operations was at Rs 1,143.17 crore during the quarter under review. It was Rs 536.17 crore in the year-ago period.

During the quarter ending March 2023, two leading cinema exhibitors PVR Ltd and INOX Leisure merged and created a new identity PVR Inox Ltd.

The merger was effective from February 6, 2023, hence the results are not comparable, it said.

"Q4 FY23 results for the company are reported on a merged basis for PVR and INOX and are not comparable with Q4 FY22 reported results. Similarly, FY23 full year results are based on 9-month numbers for PVR and 4th quarter numbers for PVR & INOX combined making them not comparable with FY22 reported results," it said.