MUMBAI: Shares of PVR Ltd surged over 7% on Wednesday after the company said it has managed to get rent waiver for most of its cinemas during the lockdown. The company said it reached settlements for more than 60% of cinemas for complete rent waiver for the lockdown period and significant discount after reopening. Total cost reduced 57% in the quarter to ₹389.37 crore from ₹905.75 crore a year ago. The company reported a consolidated loss of ₹184 crore in the September quarter against a profit of ₹48 crore a year ago. Consolidated revenue declined to ₹40.40 crore from ₹973 crore a year ago.

Source: Mint November 04, 2020 06:56 UTC