Weak occupancy hurts operating performance

Company
23 Jul 2024
5 Min read 
  • PVR-Inox reported weak 1QFY25 results with a 9% YoY revenue decline.
  •  Occupancy was weak at 20.3% and EBITDA margin stood at -3.2%.
  •  The company expects 3Q to be the biggest quarter of FY25.
  •  Ad revenue grew 5% YoY in 1Q, led by Kalki's standout performance.
  •  The company aims to add 120 screens and close 70 screens in FY25.
  •  The valuation of PVR-Inox is at 14x FY26E EV/EBITDA with a TP of INR1,400.
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