The Covid-19 pandemic times in the years 2020 and 2021 has made suffer the entire exhibition sector. It all happened due to the extensive lockdowns and restrictions. Due to the above, it resulted a huge loss in the Bizz world.
As per Gautam Dutta, CEO of PVR Cinemas, it will now become an expensive affair for moviegoers to watch a film in a multiplex.
In his usual interaction with Economic Times, he told that ticket prices are generally raised in the bracket of 5-7%. But this time, the situation is quite different than usual.
However, in the pandemic times, the multiplex chain couldn’t increase ticket prices. But now, they have hiked the PVR cinemas ticket prices by up to 23%.
PVR Cinemas Ticket Prices Raised As They Didn’t Raise Prices In the Pandemic Times
The reason for the hike in ticket prices he gave is that PVR has to cope up with the rising prices like rent, electricity and other costs.
It was also learnt that ticket prices hike also helped the company post its best quarterly revenues of Rs. 1000 crore plus in Q1 of FY 2022-23.
In the financial years 2020 and 2021, PVR reported losses up to Rs. 748 crores and Rs. 488 crores respectively in these financial years.
Gautam Dutta also hinted about some other plan of action to be taken by PVR cinemas. Like before the pandemic days, they used to open at least 90 new screens. But now, they are planning to open up to 110 screens
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