PVR opens 4-screen property in Andhra Pradesh

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PVR Cinemas announced opening a four-screen property in Narsipatnam, Visakhapatnam district of Andhra Pradesh.

PVR currently operates the former Sreekanya Cinemax as one of its properties, making it the town's largest cinema theatre. The cinema has a seating capacity of 1,188 audiences. The property is equipped with Clarus Screens from Harkness and Christie 2K projectors which will deliver a good viewing experience to moviegoers. For quality sound experience, the audio host advanced Dolby 7.1 and Dolby ATMOS will allow high-definition audio.

With this launch, PVR Cinemas consolidated its foothold in Andhra Pradesh with 13 screens in 3 properties and 296 screens across 48 properties in South. PVR strengthened its growth momentum in FY 2021-2022 with 860 screens at 179 properties in 73 cities (India and Sri Lanka), as per the company's press release.

The company reported a consolidated net loss of Rs 153.27 crore in Q2 FY22 as against a net loss of Rs 184.06 crore in Q2 FY21. Net sales soared 197.5% to Rs 120.32 crore in Q2 September 2021 over Rs 40.45 crore in Q2 September 2020.

Shares of PVR rose 0.57% to close at Rs 1,555.60 on BSE yesterday, 14 January 2022. PVR is a world leader in the multiplex business.

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