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PVR capex on track, south India in focus
Mint Mumbai
|February 01, 2024
PVR Inox is on track to open 170 new screens in the financial year 2024 at an investment of ₹600-700 crore, the multiplex chain said on Wednesday.
The Gurugram-based company has already launched 97 screens, and expects to add another 70-75 this quarter. The expansion includes 20% premium formats such as ICE and 4DX. A significant focus is on South India, which the company has identified as a key growth area and will account for 40-45% of new openings.
PVR Inox on Wednesday reported a 20% year-on-year decline in its consolidated net profit to ₹12.8 crore for the third quarter of FY24. The company's revenue jumped 64% to 1,546 crore.
This story is from the February 01, 2024 edition of Mint Mumbai.
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