PVR has reported the results of the fourth quarter of financial year 2019-20. There has been a revenue decline of 23% YoY to Rs. 645.1 crore. The COVID-19 lockdown has taken its toll on the results although the lockdown and consequent closure of cinemas started from 11th March only. Besides, there were only two big hits which were running in multiplexes in the last quarter (Tanhaji: The Unsung Warrior and Good Newwz). The premiere multiplex chain in the country posted a loss of Rs. 72 crore as against a profit of Rs. 36 crore in the previous (October-December 2019) quarter. The annual profit for FY2020 was Rs. 20 crore as compared to a profit of Rs. 176 crore in FY2019.
According to financial analyst Karan Taurani of Elara Capital, PVR added 20 new screens in Q4FY20, taking the FY20 total additions to 87 screens.