Dependence on Tamil, Telugu cinema dents PVR's Q3 profit; all eyes on Inox

Stocks of multiplexes — PVR and Inox Leisure (Inox) — have remained investors’ favourite in recent times. They were up 10-30 per cent in the past six months until January 22, even as the overall consumption sentiment was low. These gains were on the back of expectations that the two cinema exhibitors would overcome the sagging consumption scenario and continue posting strong performance. However, PVR’s muted and lower-than-expected performance for the October-December 2019 quarter (third quarter, or Q3) has belied hopes, leading to a 1.1 per cent decline in its sh.....

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