PVR Inox reported a consolidated net loss of ₹11.8 crore for the quarter ended September 30, 2024 versus ₹166.3 crore profit reported in the year-ago period. The revenue from operations stood at ₹1622.1 crore for the July-September quarter which was down by nearly 19% from ₹1,999.9 crore reported in the corresponding quarter of the previous financial year.
The consolidated total income for the quarter that ended September stood at ₹1,663.9 crore which was down about 18% from ₹2,023.7 crore reported in the corresponding quarter of the previous financial year (Q2FY24).
The company’s expenses in the September quarter came in at ₹1,678.6 crore which was lower 6.8% from ₹1,802 crore in Q2FY24.
Post the announcement of Q2 results, PVR Inox share price marginally rose. At 13:55 IST, PVR Inox share price was trading at ₹1,618.05, up 1.97% on the BSE. PVR Inox share price today opened at ₹1,605.75 per share, the stock touched an intraday high of ₹1,645, and an intraday low of ₹1,578.95.
“The stock is into a short-term corrective phase, but the broader trend remains positive, and hence one should look to buy on declines. The support is seen in the range of ₹1,530-1,500,”said Ruchit Jain, Lead Research Analyst at 5paisa.
Futher, Vishal Kashyap Mahadevia has been approved by the board of directors as an Additional Director and designated as an Independent Director on the Company’s Board for a five-year term starting from October 22, 2024.
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