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Leading multiplex operator PVR Pictures have been renamed as PVR INOX Pictures following a merger between PVR and Inox Leisure. This comes days after the multiplex chain operator had announced that it will shut down cinema screens due to accelerated depreciation on cinemas.
PVR Pictures and Inox Leisure as a merged entity is operating 1,689 screens at 361 cinemas across 115 cities till the end of FY23 in India and Sri Lanka.
The operator has also shared that it has added 168 screens in FY23, which includes 97 screens for PVR and 71 screens for INOX, and 79 screens in Q4 FY23, which includes 53 screens for PVR and 26 screens for INOX.
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According to a statement by PVR INOX Pictures, on Wednesday, intends to increase investments in content acquisition of Indian market and also plans to generate further opportunities for under-represented talents such as storytellers and independent creators.
PVR Pictures was the film production and distribution arm of PVR Group.
