The cinema chain operator launched a new five-screen property in Hyderabad, making it the 11th property in the city and crossing 300 screens in South India.
The company's 5-screen multiplex is located at Atrium Mall, Gachibowli in Hyderabad. With this launch, PVR Cinemas has consolidated its foothold in Hyderabad with 62 screens in 11 properties. It now has 301 screens across 49 properties in South.
Sanjeev Kumar Bijli, the joint MD of PVR, said, South will continue to be our focal point towards expanding our screen's presence in the region. Our screen presence in the South now occupies the leading share in our national circuit and we look forward to continue with our expansion plans in FY 2022-23 across the country.
PVR is the largest film exhibition company in India. It currently operates a cinema circuit comprising of 871 screens at 181 properties in 73 cities (India and Sri Lanka), serving over 100 million patrons annually.
On a consolidated basis, PVR reported net loss of Rs 10.18 crore in Q3 December 2021 compared with net loss of Rs 49.10 crore in Q3 December 2020. Net sales surged 1252.8% to Rs 614.15 crore in Q3 December 2021 over Q3 December 2020.
Shares of PVR advanced 2.84% to close at Rs 1,827.60 on Friday, 25 March 2022.
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