Q3FY23 Result Update - PVR Ltd - ICICI Direct

On expected lines, PVR reported a strong recovery QoQ led by improved content performance in Q3.

- Revenue came in at Rs. 940.7 crore, (up 37% QoQ) and ~3% higher than pre-Covid levels in Q3FY20. Box office revenue was at Rs. 436 crore (up ~33% QoQ) with footfalls up ~22% QoQ at 22 million and ATP at Rs. 244, up ~9% QoQ owing to content performance and movie slate mix. Ad revenues were at Rs. 79.2 crore, at ~65% of pre Covid levels. The company reported Rs. 288 crore of F&B revenues, up 25% QoQ, with SPH at Rs. 133, up 3% QoQ

- EBITDA (without impact of Ind-AS116) was at Rs. 128.3 crore, with margins at 13.6%, given the box office performance and higher distribution revenues. On reported basis, EBITDA was at Rs. 288.8 crore (margin of 30.7%)

- PAT (ex-Ind AS116) was at Rs. 25.2 crore vs. losses in the base quarter

Key triggers for future price performance

- Strong content slate line up to drive recovery in footfalls/revenues

- Merged entity (PVR Inox) will benefit from scale of expansion, faster growth trajectory and other revenues/cost synergy

For details, click on the link below: Link to the report

Shares of PVR Limited was last trading in BSE at Rs. 1610.75 as compared to the previous close of Rs. 1678.70. The total number of shares traded during the day was 67231 in over 5971 trades.

The stock hit an intraday high of Rs. 1709.40 and intraday low of 1594.55. The net turnover during the day was Rs. 110883042.00.

Source : Equity Bulls

Keywords

PVR INE191H01014 Q3FY23 ResultUpdate ICICIDirect