PVR | Pixr8 News

24Jan By AdityaNo Comments

BUSINESS

PVR Q3 Net Profit at $7 million

Multiplex chain operator PVR Thursday reported a consolidated net profit of Rs 55.38 crore for the third quarter ended December 2018. The company had reported a net profit of Rs 29.16 crore for the October-December quarter of the previous fiscal. PVR's total income during the period stood at Rs 857.37 crore. It was Rs 560.46 crore in the year-ago period, PVR said in a BSE filing. Meanwhile, the company said the results for the quarters were not comparable due to acquisition of Chennai-based chain SPI Cinemas. PVR's total expenses were Rs 768.11 crore during the quarter. It has added 123 screens during the current financial year so far and now operates a network of 748 screens spread over 161 properties in 64 cities, according to the company. Shares of PVR Ltd were tradin...

PVR to Introduce Onyx Cinema LED Screens with Samsung

28Aug By Gauri SinghNo Comments

Tech

PVR to Introduce Onyx Cinema LED Screens with Samsung

In this technology-driven era, the film entertainment company PVR is taking a step forward and become the first player in India to ditch the century-old projector screening system and is partnering with Samsung to install a huge LED TV at one of its theatres in New Delhi to offer a TV-like viewing experience for movies. These Samsung displays are called the Onyx Cinema LED screens. The company will offer these display in three sizes - 5.1x 2.7m (2K resolution), 10.2x5.4m (4K resolution) and 14x7.2m (4K resolution). The major uniqueness of the Samsung Onyx LED screen is that the content is delivered right on the screen itself from the servers and it is similar to streaming content on any TV. The first theatre that will offer an LED screen viewing experience with 10.2x5.4m (4K resolution)...

PVR to Buy Out South India-based SPI Cinemas

13Aug By Gauri SinghNo Comments

ACQUISITION

PVR to Buy Out South India-based SPI Cinemas

One of the biggest entertainment companies PVR Ltd announced that it has successfully acquired South India-based SPI Cinemas Pvt Ltd. The company is looking to expand its operations through acquisitions. SPI Cinemas has an existence in the key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala, and Mumbai. According to the reports, PVR will buy out a 71.7% stake in Chennai-based SPI Cinemas for Rs 633 crore ($91 million) in a cash-cum-stock deal. The company will take over 222,711 equity shares of SPI Cinemas. Along with this, PVR will also have an option to acquire the remaining stake for up to Rs 300 crore. “The proposed acquisition is in line with the company’s continual growth and expansion strategy,” said the company. This deal will be funded by PVR through a ...

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

9Jun By Gauri SinghNo Comments

Market

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

The 5.67 lakh shares of the largest multiplex company PVR were sold by foreign investor Baron Emerging Markets Fund worth Rs 75 crore in an open market transaction on Friday. The recent shareholding information of BSE showed that as of April 2018 the seller company held 1.57 per cent stake in PVR and has disposed of 1.21 per cent stake. The shares were offloaded at an average price of Rs 1,332.15, valuing the transaction at exactly Rs 75.53 crore. The buyers of the shares comprised of: 1)DB International (Asia) 2) TT Asia-Pacific Equity Fund 3) TT Emerging Markets Equity Fund 4) Jana Emerging Markets Share Trust 5)Lockheed Martin Corporation Master Retirement Fund Baron Emerging Markets Fund seeks capital ...

Now Watch Movie On Your Demand At PVR Cinemas

23Jan By NitishNo Comments

News

Now Watch Movie On Your Demand At PVR Cinemas

Multiplex chain operator PVR unveiled its theatre-on-demand service ‘Vkaao’ and plans to add 100 screens by the end of next fiscal across the country. “We plan to add 30 more screens by end of this financial year and another 70-80 screens in the next fiscal. Half of these new screens will come in the existing cities where we operate and half will be in new cities,” PVR joint managing director Sanjeev Kumar Bijli said. PVR operates 562 screens in 122 properties in 48 cities in India. “Vkaao is an online platform that enables consumers to watch any movie of their choice at a theatre. Vkaao is very disruptive and gives control to customers to choose what they want to watch, when and where,” PVR Pictures CEO Kamal Gianchandani said. Mr. Gianchandani said that Vkaao, a part of PVR Pict...

Paytm Ties up with PVR To Sell Movie Tickets

21Mar By Press Trust of IndiaNo Comments

BUSINESS

Paytm Ties up with PVR To Sell Movie Tickets

PVR plans to sell movie tickets worth Rs 250-300 crore using Paytm's platform in the first year of their association as the two firms tied up today to sell cinema tickets. The two firms today announced to bring PVR's movie tickets to Paytm's e-commerce platform as the latter forays into the online movie ticket segment. "In the first year of this relationship, PVR targets to sell tickets worth Rs 2.5-3 billion on Paytm's e-commerce platform besides selling tickets from the box offices and other channels", PVR and Paytm said in a joint statement. Paytm said it is aggressively extending its presence in new verticals as part of its strategy to be ubiquitous in daily life of its customers. "Paytm has set aggressive targets for itself and intends to double the share of online movie ticke...