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.