The multiplex network PVR Inox said on Thursday that Ajay Kumar Bijli, the company’s promoter, had reduced his ownership position. The price of PVR Inox shares went up slightly following the announcement. The company said in a regulatory filing that the promoters, which include Ajay Bijli, sold 3.25 lakh PVR Inox shares in total through open market transactions, representing 0.33% of the company’s total equity. The exchange statement states that the promoters sold PVR Inox shares on August 20.
Shares Of PVR Inox Have Increased
Promoters had previously held 62,86,311 equity shares, or 6.40% of the firm, but after dumping the stock, they currently own 59,61,311 PVR Inox shares, or 6.07%. At the end of the June 2024 quarter, the public shareholding was 72.16%, while the promoter and promoter group held 27.84% of the shares, according to the PVR Inox shareholding pattern. In a single week, shares of PVR Inox have increased by 4.3%, and over 12.72% over the last three months. Year-to-date (YTD), the multiplex stock has decreased by 8.60%.
In the 1st quarter of FY25, PVR Inox reported a wider net loss than the same period the previous year, rising from ₹81.6 crore to ₹178.7 crore. The multiplex chain reported a ₹130 crore net loss for the quarter that concluded in March 2024. In Q1FY25, the company’s operating revenue dropped 8.7% to ₹1,190.7 crore from ₹1,304.9 crore in the same quarter the previous year. In the June quarter, PVR Inox had 3.04 crore foot traffic, a 10% decrease from 3.39 crore in the corresponding time the previous year. The average ticket price (ATP) decreased 4.7% from ₹246, YoY to ₹235 in Q1FY25.
Company’s Operating Revenue Decreased
PVR Inox said that their net loss for the 1st quarter of FY25 increased to ₹178.7 crore from ₹81.6 crore the previous year. For the quarter that ended in March 2024, the multiplex network reported a net loss amounting to ₹130 crore. The company’s operating revenue in Q1FY25 decreased 8.7% from ₹1,304.9 crore to ₹1,190.7 crore in the same quarter last year. 3.04 crore foot traffic was recorded by PVR Inox in the quarter of June, a 10% decrease from 3.39 crore in the same period the previous year. In Q1FY25, the average ticket price (ATP) decreased by 4.7% from ₹246, YoY to ₹235.
