PVR Inox trades 4% higher on strong booking numbers for new movies Stree 2, and Vedaa

Meanwhile, Vedaa’s box office collections came in at ₹13.25 crore, and Thangalaan raked in ₹29.35 crore at the domestic box offices within the first four days of its release. Stree 2 has performed better over the weekend and is now eyeing to breach the ₹200 crore mark in domestic box office collections. A rise in bookings is expected to benefit PVR Inox.

Earlier this month, PVR Inox expanded its presence in Gujarat with the opening of a 9-screen multiplex at Phoenix Palladium Mall in Ahmedabad. The company reported that the cinema is equipped with state-of-the-art cinematic technologies, including 3D technology, Dolby 7.1 Audio, and a 4K laser projection.

The cinema will be Gujarat's first luxury cinema with IMAX and LUXE formats. The company reported that the multiplex can accommodate 1,283 guests. With the addition of the Gujarat multiplex, PVR Inox operates the largest multiplex network with 1,752 screens across 112 cities in India and Sri Lanka.

For the quarter ended June 30, 2024, the company’s net loss widened to ₹13.66 crore compared to a net loss of ₹4.41 crore in the corresponding period last year.

The company’s total revenues were lower by 8.74% year-on-year (YoY) at ₹120.86 crore. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) were negative at ₹1.99 crore compared to a positive EBITDA of ₹10.33 crore in the same period last year.

The company's shares have declined by nearly 7% since the beginning of the year, and the stock has lost over 9% in the past year.