PVR hits record high after posting strong Q1 results

PVR rose 5.86% to Rs 864 at 15:25 IST on BSE after consolidated net profit surged 657.83% to Rs 58.05 crore on 33.95% rise in total income to Rs 486.84 crore in Q1 June 2015 over Q1 June 2014.

The result was announced during market hours today, 22 July 2015.

Meanwhile, the BSE Sensex was up 313.56 points, or 1.11%, to 28,508.09.

On BSE, so far 3.1 lakh shares were traded in the counter, compared with an average volume of 26,775 shares in the past one quarter.

The stock hit a high of Rs 872, which is also a record high for the counter. The stock hit a low of Rs 820 so far during the day. The stock had hit a 52-week low of Rs 572 on 23 January 2015.

PVR also said that the board of directors of the company at its meeting held today, 22 July 2015, has approved issue of Non Convertible Debentures for a sum not exceeding Rs 500 crore subject to approval by the members of the company in the forthcoming Annual General Meeting. The board has also approved the scheme of merger of PVR Leisure and Lettuce Entertain You with the company. The board approved allotment of 50 lakh shares at Rs 700 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited.

PVR is the largest and the most premium film and retail entertainment company in India.

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