PVR Inox share price gains a day after Q1 results
PVR Inox Q1 results: PVR Inox share price opened higher at ₹1,585 as against the previous close of ₹1,565.95 a day after the company declared its Q1 results. The PVR Inox stock further gained to touch a high of ₹1,614.10, up about 2% from yesterday's close. At the time of writing this copy, PVR Inox shares were trading at ₹1,588.65, up ₹22.70, or 1.45%.
PVR Inox, the multiplex chain operator, on Tuesday reported a net loss of ₹44.1 crore in the quarter ended June 2023 as compared to a net profit of ₹68.3 crore in the year-ago period. The company’s net loss, however, narrowed sequentially from ₹285.7 crore in the previous quarter. In Q1FY24, revenue from operations climbed 31.7% year-on-year (YoY), from ₹961.5 crore to ₹1,266.6 crore.
Sequentially, the company's average ticket price increased by 2.9% to ₹246 from ₹239. At the same period, spending per person grew 9.2% to ₹130 from ₹119 in the previous quarter. “Looking forward to FY’24, we are optimistic about the robust content line up across all languages," said the company in an exchange filing.
Also Read: PVR Inox Q1 Results: Multiplex chain reports net loss of ₹44 crore; Average ticket price up 2.9% QoQ On the technical front, as per trendlyne data, PVR Inox stock price fell 26.8% and underperformed its sector by 26.1% in the past year. “After a long underperformance, the PVR Inox stock price has seen a pullback move in last couple of weeks mainly due to short covering. We expect the stock to consolidate in a range in the near term with support placed around 1400 and resistance in 1650-1700 range," said Ruchit Jain, Lead Research Analyst at 5paisa.
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