Multiplex company PVR said that it had a consolidated net loss of Rs 289.12 crore in the fourth quarter.
New Delhi. PVR Limited, the company that runs the cinema hall, has released the fourth quarter results on Wednesday. The company said that due to the Kovid-19 epidemic, it has a consolidated net loss of Rs 289.12 crore for the quarter ended March 31, 2021.
The company had a net loss of Rs 74.49 crore in the same quarter of the previous financial year. PVR said in a regulatory filing that its total income stood at Rs 263.26 crore during the period under review, as against Rs 661.78 crore in the same quarter a year ago.
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PVR said that the results for the quarter ended March 31, 2021 and for the full year cannot be compared with the results for the quarter ended March 31, 2020 and for that whole year due to the COVID-19 induced lockdown, volatility. Work was severely affected due to reopening, social distancing provisions, not many films coming and lack of consumer confidence.Also read- 7th Pay Commision: Good news for central employees, this new information about DA, know when the salary will increase
PVR said that even though there were no major Bollywood or Hollywood film releases in the fourth quarter of FY21, the southern film industry saw new releases, indicating a strong improvement.
According to Ajay Bijli, Chairman and MD of the company, the company believes that with mass vaccination, the situation will return to normal and the business will emerge stronger than ever.