PVR has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business. The company at present not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.
According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity. The company has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with 'reduction in headcount by way of layoffs/retrenchment' to mitigate the adverse impact of COVID-19 on the business.
PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.