Shares of PVR INOX, India’s largest cinema exhibitor, surged nearly 5% after the company said it achieved its highest-ever single-day and weekend admissions and box office revenue.
What Happened: PVR INOX said it entertained 1.28 million guests and generated a gross box office revenue of ₹39.5 crores on August 13. The weekend spanning from August 11 to 13 saw the company welcome 3.36 million guests, earning a gross box office revenue exceeding ₹100 crores.
The success was fueled by strong box office performances of recent releases like Gadar 2, Jailer and OMG2, as well as continued success from earlier releases such as Rocky aur Rani ki Prem Kahani and Oppenheimer.
PVR INOX emphasised that the demand for immersive cinematic experiences remains robust. The theatre industry has struggled to ratchet up momentum since the Covid-19 pandemic.
Price Action: PVR INOX’s share price shot up 4.99% to ₹1,720.55 around noon on Monday.
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