Latest News | Inox Leisure Shares Tumble over 10 Pc on Q4 Net Loss

New Delhi, Jun 9 (PTI) Shares of multiplex chain operator Inox Leisure Ltd on Tuesday plummeted over 10 per cent after the firm reported a consolidated net loss of Rs 82.15 crore for the fourth quarter ended March 2020.

The scrip tumbled 10.19 per cent to close at Rs 254.15 on the BSE. During the day, it plunged 12.13 per cent to Rs 248.65.

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On the NSE, it declined 9.67 per cent to close at Rs 255.80.

Inox Leisure Ltd on Monday reported a consolidated net loss of Rs 82.15 crore for the fourth quarter ended March 2020, as the film exhibition business was impacted because of COVID-19 pandemic and subsequent lockdown.

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The company had posted a net profit of Rs 48.08 crore in January-March quarter a year ago, Inox Leisure said in a BSE filing.

Revenue from operations declined 22.39 per cent to Rs 371.58 crore during the quarter under review as against Rs 478.84 crore in the corresponding quarter a year ago.

"The COVID-19 pandemic and the resultant lockdown declared by the government in March 2020 has impacted the entire entertainment industry and consequently the business activities of the Group are also adversely affected," Inox Leisure said in a post-earnings statement.

Commenting on the results, Inox Group Director Siddharth Jain said, "the advent of COVID-19 has left a serious mark on our fourth quarter performance and will remain a cause of concern in the subsequent months as well."

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