PVR Inox promoters including Ajay Bijli trim stake in the company; sell 0.33% stake via open market

Multiplex chain PVR Inox on Thursday announced that its promoter Ajay Kumar Bijli has trimmed his stake in the company. PVR Inox share price was trading marginally higher after the announcement.

In a regulatory filing, the company said the promoters, including Ajay Bijli, sold a total of 3.25 lakh PVR Inox shares, which amounts to 0.33% stake in the company through open market.

PVR Inox shares were sold on August 20 by the promoters, according to the exchange filing.

After offloading the stock, promoters now hold 59,61,311 PVR Inox shares, or 6.07% stake in the company as against 62,86,311 equity shares, or 6.40% stake, held by them before.

As per PVR Inox shareholding pattern at the end of June 2024 quarter, promoter and promoter group shareholding was 27.84%, while public shareholding was 72.16%.

PVR Inox shares have gained 4.3% in one week and more than 12.72% in three months. The multiplex stock has fallen 8.60% year-to-date (YTD).

PVR Inox Q1 Results

PVR Inox reported its net loss widening to ₹178.7 crore during the first quarter of FY25 from ₹81.6 crore a year ago. The multiplex chain had posted a net loss of ₹130 crore in the quarter ended March 2024.

The company’s revenue from operations in Q1FY25 fell 8.7% to ₹1,190.7 crore from ₹1,304.9 crore in the year-ago quarter.

PVR Inox reported footfalls at 3.04 crore in the June quarter, a decline of 10% from 3.39 crore during the same period last year. Average ticket price (ATP) also declined 4.7% to ₹235 in Q1FY25 from ₹246, YoY.

Spend per head (SPH) during the quarter rose 3.1% YoY to ₹134 from ₹130.

At 11:15 am, PVR Inox shares were trading 0.57% higher at ₹1,526.10 apiece on the BSE.