PVR reports net loss of ₹ 289.12 cr in Q4

New Delhi Multiplex operator PVR Ltdon Wednesday reported a consolidated net loss of Rs 289.12 crore in the quarter ended on March 31, 2021, as the company continued to be impacted by the Covid-19 pandemic.

The company had posted a net loss of Rs 74.49 crore in the same quarter of the last fiscal. Total income during the period under review stood at Rs 263.26 crore against Rs 661.78 crore in the corresponding quarter a year ago, PVR said in a regulatory filing. PVR said results for the quarter and year ended March 31, 2021, are not comparable with results for the quarter and year ended March 31, 2020, as the operations were severely impacted due to Covid-19 induced lockdowns, staggered re-openings, social distancing requirements, limited content flow and low consumer confidence.

"FY 2020-21 was one of the toughest years for the multiplex industry and the company was able to successfully navigate the challenges on account of Covid-19 through a continuous focus on reducing fixed costs and keeping adequate liquidity on the balance sheet," it added. PVR said even though there were no major Bollywood or Hollywood movie releases in Q4 FY'21, the Southern film industry which saw new movie releases showed a strong recovery.

With the resurgence of the second wave of Covid-19 since April 2021 and consequent shutdown of cinemas, the company said it has again started taking all necessary measures to manage its costs and preserve liquidity.