PVR Q3 Results, PVR is india’s largest multiplex with more than 850 screens. It pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at New Delhi and continue to lead the market with relentless focus on innovation and operational excellence to democratise big‑screen movie experience.
In March 2022, the Boards of PVR and INOX Leisure approved the merger of the two entities. INOX shareholders will receive 3 shares in PVR for 10 shares of INOX.
Post the merger, the promoters of INOX will become co-promoters in the merged entity along with the existing promoters of PVR. The merged entity would become the largest cinema exhibition company in India operating more than 1500 screens across 110 cities
Revenue from operations rose 53 percent year-on-year to Rs 941 crore from Rs 614 crore in the corresponding quarter of the previous fiscal. EBITDA (earnings before interest, taxes, depreciation and amortization) grew 75.1 percent year on year basis to Rs 288.8 crore.
Net profit rises to 16 crores in this december quarter 2022 as compared to loss in last year same quarter 10 crores. 71 crores of loss in september quarter this year.

PVR Q3 Results : Brokerages View on PVR
ICICI Securities pointing out positives for PVR said: Merger with INOX may be complete in next three months; window of eight weeks for OTT release reinstated; ad revenue likely to be at 62 per cent in Q3; and occupancy/ ticketing revenue has picked up in Q3FY23-to-date on strong movie pipeline.
The domestic brokerage cut EPS estimates by 29 and 7 per cent for FY23E and FY24E on lower occupancy and weak ad revenue. However, maintained a Buy rating with a revised target price of Rs 2,100 from Rs2,300 with an unchanged multiple of 16x FY24E EBITDA.
Similarly, Kotak Institutional Equities expects the business of PVR to gradually recover with improvement in Bollywood content. The PVR-INOX merger is on track and merger synergies can potentially drive a 15 per cent EBITDA upside. It maintained a Buy rating with a target of Rs 2,200.