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Multiplex giant PVR INOX announces 50 screens shut down in six months; Here’s why

PVR INOX also reported a net loss of Rs 333.35 crore for the quarter ended March 2023, which is against a net loss of Rs 105.49 crore in the last fiscal’s  same quarter.

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Multiplex giant PVR INOX

Country’s leading multiplex giant PVR INOX on Monday announced the shut down of its 50 cinema screens in the next six months period.

The multiplex operator which runs the largest chain of multiplex screens in India has taken this decision as the proposed cinemas to be shutdown have reached their stage of residual value and loss making.

On a statement issued by PVR INOX, it said the company has planned to shut down about 50 cinema screens over the period of next six months. The proposed cinema properties that are to be shut down are loss making or are located in such malls which have reached the end of their useful life and have no chances left for revival.

The company also said it has followed an accelerated deprecation method in its books and has written off the Written Down Value (WDV) of the assets.

The multiplex operator also announced that during the last fiscal year it opened 168 new screens (97 PVR screens & 71 INOX screens).

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Sharing its future plans, it  said it has targeted adding up 150-175 more screens in FY24, of which 9 screens have already been introduced and 15 more are awaiting license for commercial opening, and another 152 screens are under different stages of fit out.

PVR INOX also reported a net loss of Rs 333.35 crore for the quarter ended March 2023, which is against a net loss of Rs 105.49 crore in the last fiscal’s  same quarter. The company earned a profit of Rs 16.1 crore in the preceding December quarter.

Currently, the company operates 1,546 screens across 341 cinemas in 109 cities in India. In the last February the erstwhile rivals announced their merger.

Sanjeev Kumar Bijli, Exceutive Director of PVR INOX earlier said about the company’s plans on adding 180 screens in the upcoming fiscal year and the company is confident enough in the enhancement of the admission numbers claiming having a robust pipeline of content in English, Hindi and even in regional languages.

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Entertainment

Panchayat Season 3 to premiere on Amazon Prime video on May 28, 2024

The web series has been directed by Deepak Kumar Mishra and the script has been written by Chandan Kumar. The storyline of Panchayat 3 revolves around the challenges and conflicts faced by collector Abhishek Kumar, Pradhanji, Prahlad Pandey, Vinod, Bhushan and other characters in Phulera village.

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Amazon Prime Video on Thursday announced that the 3rd season of Panchayat which will start stream from May 28 onwards. Amazon Prime Video took to its Instagram handle and wrote you moved the laukis, we announced the rewards.

Manish Menghani, director of content licensing at Prime Video India said Panchayat has been widely appreciated by the audiences due to its simple storytelling that is rooted in the slow-paced village life and for its satirical treatment of daily issues faced by villagers of Phulera.

Menghani further added due to its engaging and thought-provoking storyline, rustic backdrop, incredible direction and enthralling performances, Panchayat has become a part of pop culture with its characters and storyline it has captured the audience’s imagination and has become truly iconic.

The Viral Fever (TVF) President Vijay Koshi recalled that during the first season of Panchayat they had first premiered Panchayat on Prime Video back in 2020 and it has been truly an incredible journey with audiences from not only India but viewers from around the globe are sending their love and appreciation for this rural life-based comedy drama. The web series has managed to captivate the hearts of audiences with its authenticity and simplicity

Earlier Amazon Prime Video shared stills from the Panchayat 3 sets and the first picture showed Jitendra Kumar on a bicycle, the other photographs featured Ashok Pathak, Durgesh Kumar and Faisal Malik as Vinod, Bhushan and Prahlad, respectively.

The web series has been directed by Deepak Kumar Mishra and the script has been written by Chandan Kumar. The storyline of Panchayat 3 revolves around the challenges and conflicts faced by collector Abhishek Kumar, Pradhanji, Prahlad Pandey, Vinod, Bhushan and other characters in Phulera village. Panchayat 3 features Jitendra Kumar , Raghubir Yadav, Neena Gupta, Saanvika, Faisal Malik, Durgesh Kumar, Ashok Pathak and Chandan Roy in important roles.

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Pushpa Pushpa: Allu Arjun starrer Pushpa 2 first song released

Allu Arjun and Rashmika Mandanna starrer film is scheduled to release on August 15 this year across the world.

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The first song from Sukumar’s Pushpa 2: The Rule, starring Allu Arjun, Rashmika Mandanna, and Fahadh Faasil, was released on May 1 by the maker of the film. Devi Sri Prasad wrote the song Pushpa Pushpa, which is sung by Nakash Aziz and Deepak Blue in addition to Chandrabose’s lyrics.

The lyrics of the first single, which has a duration of 4 minutes and 19 seconds, celebrate Allu’s character Pushpa Raj. Scenes from the movie are woven throughout the lyrical video, with the song’s words placed on them.

Those who missed Allu’s dance in Pushpa: The Rise will get another chance to see him perform. According to the makers, the actor does a chai step, a phone step, and a shoe drop step.

Allu Arjun’s character and others are described in the powerful lyrics. The song’s catchy melody will undoubtedly be at the top of the charts for many days to come. The song is released in Telugu, Tamil, Hindi, Kannada, Malayalam, and Bengali languages. T Series is releasing Pushpa 2: The Rule’s soundtrack worldwide.

The teaser for Pushpa 2 was also unveiled earlier this month on Allu Arjun’s birthday by the makers of the film. In the teaser, Allu was seen wearing a saree and sporting blue and red makeup. To make the look intense, he wore traditional gold and flower jewellery along with the heavy makeup.

In Sukumar’s Pushpa 2: The Rule, Allu, Rashmika, and Fahadh will play Pushpa Raj, Srivalli, and Bhanwar Singh Shekawat, respectively. The film also stars Jagapathi Babu, Brahmaji, and Anasuya Bharadwaj in key roles. It is a follow-up to Pushpa: The Rise, which was released in 2021.

The film which is scheduled to release on August 15 this year, can see a cameo appearance of Samantha Ruth Prabhu. It’s also expected that Sanjay Dutt will have a unique role in Pushpa 2: The Rule.

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On wife Anushka Sharma’s birthday, Virat Kohli says he would’ve been lost without her

Bollywood actor Anushka Sharma is celebrating her 36th birthday today

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Bollywood’s one of the most versatile actors, Anushka Sharma, turned 36 today. To mark the occasion, her husband and India’s star cricketer Virat Kohli took to Instgaram, shared a few photos with her, and penned a special note.

Taking to Instagram, Virat wrote, he would have been completely lost if he hadn’t found her. Calling her love, he wished Anushka Sharma a happy birthday. In his caption, he expressed his love for her and said she is the light in their world.

As soon as Virat Kholi shared the pictures, they quickly went viral. Taking to the comment section, both Anushka’s and Virat’s fans wished the Rab Ne Bana Di Jodi actor on her birthday. A user said, Happy Birthday Anushka, you are lucky to find a man like him. Another said manifesting a relationship liek them. A third user wrote, Happy Birthday bhabhi. While other users dropped the heart emoji in the comment section.

Meanwhile, Anushka Sharma and Virat Kohli first got to know eachother while shooting for a shampoo commercial. After dating for a few years, they  tied the knot in a private ceremony in Italy in 2017. In 2021, the couple was blessed with their daughter Vamika, and in February 2024, the duo welcomed their second child, Akaay.

On workfront, Anushka Sharm, who was last seen in 2018 released film Zero alongside Shah Rukh Khan, will be next seen the sports biopic Chakda Xpress, which is based on the life of cricketer Jhulan Goswami. The actor was also seen in a cameo appearance in Qala, released on Netflix, and produced by her brother Karnesh Sharma. While, Virat Kohli, who is currently busy playing for Royal Challengers Bengaluru (RCB) in the Indian Premier League, will be next seen representing India in the upcoming ICC T20 World Cup.

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