PVR INOX is planning to shut down approximately 50 cinema screens over the next 6 months. These properties are loss-making, or housed in malls which have reached the end of their life cycle with little hope of any revival.
PVR INOX had reported a consolidated net loss of Rs 333.99 crore and revenue from operations was at Rs 1,143.17 crore for the fourth quarter that ended on March 31, 2023.
PVR completed the merger of INOX Leisure Limited, effective February 06, 2023. The merged entity is the largest film exhibition company in India.
