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PVR share trading lower ahead of Q4 earnings

PVR share trading lower ahead of Q4 earnings

Share price of PVR opened with a gain of 8.66% at Rs 1349 against previous close of Rs 1241.50 on BSE

PVR share has gained 50% in last 10 days. The stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages PVR share has gained 50% in last 10 days. The stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages

PVR share price was trading lower ahead of the firm's Q4 earnings to be announced later in the day.  Share price of PVR opened with a gain of 8.66% at Rs 1,349 against previous close of Rs 1,241.50 on BSE. At 10: 16 am, the share was trading 2.32% or Rs 28.75 lower at Rs 1212. The Q4 earnings and outlook of the firm assume significance since movie theatres remain closed till date from March 25 due to rising number of coronavirus cases.

Total 1.29 lakh shares changed hands amounting to turnover of  Rs 16.35 crore. The stock has gained 50% in last 10 days. The stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.

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The midcap share has lost 33.74% since the beginning of the year and lost 28.24% during last one year. In a week, the share has gained 30%.

The share hit 52-week high of Rs 2,121 on February 20, 2020 and 52 week low of Rs 719.50 on May 19, 2020.

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For third quarter ended December 2019, PVR reported a consolidated net profit after tax at Rs 36.26 crore in the third quarter ended December 2019 against net profit of Rs 55.22 crore in the same quarter last fiscal.

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Revenue from operations in Q3 stood at Rs 915.74 crore against Rs 843.11 crore in the corresponding quarter a year ago.

The results for the quarter and the nine months period ended December 2019 were not strictly comparable on account of adoption of Ind AS 116 'Leases', PVR said.

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