PVR Share Price: The next day after the result, the price jumped by one and a half percent, now how is the strategy going forward? Experts Tips – pvr share price jumps more than one percent experts suggest to invest at this target price

PVR Share Price: The second quarter of the current financial year was mixed for the leading multiplex chain PVR. Its revenue has also increased in the September 2022 quarter and there has also been a decline in net loss. However, its cost has increased. The next day after the announcement of the result, buying in its shares has increased and has reached a price of Rs 1714.90 with a gain of about one and a half percent.

According to domestic brokerage firm ICICI Securities, its bullishness is not going to stop yet and the bullish trend may remain in the future. The brokerage firm has fixed a target price of Rs 2100 for investing in this, which is about 22 percent upside from the current price.

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Flop movies and discounts spoil your health

PVR’s adjusted EBITDA loss in the second quarter of the current financial year 2022-23 stood at Rs 2.2 crore. Poor performance of Bollywood movies and limited release of Hollywood movies negatively affected PVR. However, it got support from regional cinema.

ATP (Average Ticket Price) and SPH (Spend on Head on Food and Beverages) declined on a quarterly basis in July-September 2022 on account of discounts on National Cinema Day and if it were not for the discounts, the growth would have been healthy for FY20. Lived.

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Target price cut but rating remains intact

According to the brokerage firm, now PVR is changing its cost structure. It now has variable portions in its rental and employee cost, which will help it tide over the decline in margins in the weak quarter. Further, the merger with INOX is on track and the results will be visible within three months.

According to ICICI Securities, the poor results in September 2022 are transitory, meaning this situation is not going to persist. However, the brokerage firm has cut its EPS for FY2023 by 29 per cent due to lower occupancy and weak ad revenue. Its target price has been reduced from Rs 2300 to Rs 2100 but has retained its buy rating.

Disclaimer: The advice or views given on moneycontrol.com are the personal views of the expert/brokerage firm. Website or Management is not responsible for this. Moneycontrol advises users to always consult a certified expert before taking any investment decision.

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