PVR Inox Q2 Results: Net Loss At Rs 11.3 Crore, Revenue Down 18.9%

PVR Inox Ltd. has incurred a net loss of Rs 11.3 crore during the quarter ended Sept. 30, 2024, as per the consolidated results declared by the multiplex operator on Tuesday.

In comparison, PVR Inox logged a net profit of Rs 166.3 crore in the year-ago quarter. Sequentially, however, the net loss has trimmed as compared to Rs 178.7 crore in the quarter ended June 30, 2024.

The multiplex chain also reported a consolidated revenue from operations of Rs 1,622 crore during the second quarter, which is 18.9% lower as against Rs 2,000 crore in the year-ago period.

PVR Inox's earnings before interest, taxes, depreciation and amortisation declined 32.2% to Rs 479 crore from Rs 707 crore in the corresponding quarter of the previous fiscal. The Ebitda margin, in the same period, dropped to 29.5% from 35.3%.

• Revenue down 18.9% at Rs 1,622 crore versus Rs 2,000 crore. (Bloomberg estimate: Rs 1,634 crore).

• Ebitda falls 32.2% to Rs 479 crore versus Rs 707 crore (Bloomberg estimate: Rs 490 crore).

• Ebitda margin at 29.5% versus 35.3% (Bloomberg estimate: 30%) .

• Net loss of Rs 11.8 crore versus net profit of Rs 166 crore (Bloomberg estimate: net profit of Rs 24 crore).

The quarterly results of PVR Inox were in focus as investors were looking for a potential turnaround after the losses incurred in the April-June period.

In the June quarter, the company had posted a decline of 8% in consolidated revenue from operations at Rs 1,190.7 crore, compared to the year-ago period when it stood at Rs 1,304.9 crore. The company's net loss had widened to Rs 178.7 crore from Rs 82 crore in the first quarter of fiscal 2024.

Shares of PVR Inox edged upwards after the second quarter results were out. This could be driven by the narrowing of net loss as compared to the preceding quarter.

At 1:43 p.m., the company's shares were trading 1.99% higher at Rs 1,621.7 apiece on the NSE, compared to a 0.27% decline in the benchmark Nifty 50.

The stock has fallen 2.3% on year-to-date basis, and by 7.5% over the past 12 months.

Out of 24 analysts tracking the stock, 19 have a 'buy' rating, three suggest a 'hold', and two recommend a 'sell', as per Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 11.1%.