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PVR subsidiary - PVR Pictures to focus on film distribution

10 Aug 2011 Evaluate

Cinema exhibitor PVR's wholly-owned subsidiary - PVR Pictures will now onwards focus on film distribution which would enable it to turn profitable in the next 18 months. PVR is already in the process of merging the film production business of PVR Pictures with itself. The company has decided to go slow on film production and focus on film exhibition and distribution.

While PVR will continue to deal in cinema exhibition on the other hand PVR Pictures will manage film distribution. The production business under PVR Pictures had been registering losses, so the company has decided not to carry on with it aggressively. The company's production and distribution business registered loss of Rs 4.58 crore, for the quarter ended June 30, 2011.

Recently, PVR had received an approval for the proposed composite scheme of arrangement to merge production business undertaking of PVR Pictures with the company and to carry financial restructuring. The company had received an approval at its board meeting held on August 08, 2011.

PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain. It currently owns 101 screens across 14 cities and many more are in the offing.

PVR Share Price

938.05 -12.75 (-1.34%)
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Company Name CMP
PVR 938.05
Saregama India 344.55
Shemaroo Entertain. 105.35
Balaji Telefilms 94.39
UFO Moviez 72.06
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