PVR share price dips 4% post Q1 results; court verdict on food into multiplexes awaited

PVR share price dipped nearly 4 per cent on Wednesday after the multiplex chain operator reported 17.29 per cent increase in consolidated net profit at Rs 52.15 crore for the first quarter of the current fiscal year. The company had reported a net profit of Rs 44.46 crore for the April-June quarter of last fiscal, 2017-18.

Reacting to its earnings, the stock shed as much as 3.75 per cent to Rs 1128 on the BSE. The stock settled at Rs 1141.20, down 2.6 per cent.

The company's total income during the first quarter of 2018-19 was Rs 700.53 crore, up 7.27 per cent, as against Rs 653.03 crore reported in the year-ago period, PVR said in a regulatory filing to BSE.

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Meanwhile, The hearing on public interest litigation by a Mumbai resident against prohibiting people from carrying personal food items into film theatres is lined up at Bombay High Court. Investors are keeping a close eye on High Court's verdict on the same.