PVR declined 6.72% to Rs 1,267.20, extending recent steep losses.
Shares of PVR slumped 26.11% in five consecutive trading sessions to its current market price of Rs 1,267.20, from its recent closing high of Rs 1715.05 as on Thursday, 5 March 2020. The stock hit 52-week low at Rs 1,156 in early trade today.
The stock tumbled on concerns that the coronavirus outbreak may impact earnings. The World Health Organization (WHO) placed an emphasis on limiting public gatherings to counter the coronavirus spread.
Meanwhile, Delhi chief minister Arvind Kejriwal on Thursday (12 March) declared coronavirus an epidemic and ordered to shut all cinema halls in Delhi till 31 March 2020. Schools and colleges where exams are not being held will also remain closed, he added.
PVR's consolidated net profit slipped 34.3% to Rs 36.34 crore on a 8.6% jump in net sales to Rs 915.74 crore in Q3 December 2019 over Q3 December 2018.
PVR is a film entertainment company, which is engaged in the motion picture exhibition in cinemas. The Company has organized its operations into three business segments: movie exhibition, movie production & distribution and others like bowling, gaming and restaurant.
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