InvestorQ : How do you see the stock of Inox Leisure after the latest quarter results for Mar-20?
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How do you see the stock of Inox Leisure after the latest quarter results for Mar-20?

Answer
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3 months ago


Inox Leisure, India’s second largest multiplex chain after PVR, reported net loss of Rs.82.15 crore for the Mar-20 quarter. With malls under lockdown, the film exhibition business was badly impacted. This contrasts with a healthy profit of Rs.48 crore in Mar-19 quarter. The COVID effect also ensured that revenues from operations were lower by 22.39% at Rs.372 crore in the Mar-20 quarter. The entertainment industry has been one of the worst affected and the pressure of rising OTT subscriptions is only adding to their woes. It has been sustaining its expansion spree adding 58 screens during the fiscal year. Currently, Inox is negotiating expense reduction like invoking force majeure clause on lease agreements, asking landlords to forego CAM (common area maintenance) charges for the shutdown period.