PVR Limited shares plunged almost 4% after its Q1 results for FY21

 

PVR Limited shares plunged almost 4% after its Q1 results for FY21: 

PVR: It is one of the largest entertainment companies in India. However, is a joint venture between Priya Exhibitors Private Limited and Village Roadshow Limited.  The company was founded by Ajay Bijli in 1997. The company is located in 170 cities with almost 800 screens across India. The present chief executive officer (CEO) of the company is Sanjeev Kumar Bijli.

Meanwhile, on Tuesday, September 15th, the company shares plunged almost 3% in the stock market. The main reason for this is the company reported its Q1 results for the Financial Year 2020-21. The company’s consolidated loss after tax stood at Rs. 226.00 crores in this quarter ended on June 30th. The company also reported its consolidated net profit of Rs. 18.00 crores in the same period last fiscal year. 

Besides, the company’s consolidated net revenue from operations declined to Rs. 55.00 crores in Q1FY21. The company also posted its consolidated net revenue of Rs. 887.00 crores in the same period last fiscal year. The main reason for these losses is due to the COVID-19 pandemic and lockdown across India.

On the other side, the companies EBITDA loss during this quarter stood at Rs. 73 crores as compared to a positive EBITDA of Rs. 285 crores in the same quarter last fiscal year.

However, the shares of PVR Limited reported a bearish trend in the stock market on Tuesday. The company lost 49.60 points with a 3.82% decrease and reached 1,262.00 INR. While in BSE, the company lost 47.00 points with a 3.59% decrease and reached 1,263.30 INR.

 Stock Market September 15th:

On Tuesday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last session. The Sensex is trading above 39,000 levels and the Nifty is trading above 11,400 levels in the stock market. The Sensex gained 287.72 points with a 0.74% increase and reached a 39,044.35 level. While Nifty gained 91.70 points with a 0.80% increase and reached 11,531.75 level.

On the other side, the number of coronavirus cases in India reached 49,30,236 as of Tuesday, September 15th, and deaths reached 80,776.

In the border markets, the S&P BSE SmallCap reported a bullish trend in the stock market on Tuesday. It gained 218.34 points with a 1.44% increase and reached a 15,363.57 level. The Q1 results for the Financial Year 2020-21 gained 127.05 points with a 0.85% increase and reached 15,014.74 level. While the Nifty Bank gained 409.50 points with a 1.85% increase and reached 22,465.65 level.

Top Gainers on September 15th: IndusInd Bank, Cipla, UPL, Axis Bank, and Bharti Airtel are the top gainers in today’s stock market.

Top Losers on September 15th: Titan Company, Maruti Suzuki, HDFC Life, Eicher Motors, and ITC are the top losers in today’s stock market.