My outfits will never overpower my personality: Taapsee Pannu

New Delhi, Jun 9: Multiplex operator PVR on Monday said it has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business.

The company said at present it is not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.

According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity.

PVR has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with "reduction in headcount by way of layoffs/retrenchment" to mitigate the adverse impact of COVID-19 on the business.

Moreover, the board of the company, in its meeting held on Monday has also approved plan to raise Rs 300 crore through rights issue.

"Since Cinema Exhibition is the only business segment, company is currently not generating any revenue from admissions, food and beverage sales or other revenue and cash flow from operations," said PVR in an update.

Beginning from March 11, PVR started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, it added.

The company will continue to incur committed cash outflows, including employee salary pay-outs, other overheads as well as payments for older working capital.

"This has and will have a significant negative impact on profitability and liquidity during lockdown and even thereafter till business comes to normalcy," it added.

Further, once the cinemas are re-opened, we may not be able to run our cinemas at normal capacity utilisation levels on account of social distancing measures that cinemas may be required to follow as well as health concerns that the patrons may have, the multiplex operator said.

"On account of this, our revenue and cash flow generation may be impeded even once we are allowed to restart operations," it added.

The company has also deferred decision on on increments to reduce its cost, it added.

PVR has also written to developers for waiving rental and CAM (Common Area Maintenance) charges for the lockdown period.

It is in discussion with developers for reducing rentals post re-opening and has invoked force majeure clause in its agreements with them.

Besides, the company has raised additional borrowings from existing bankers to shore up liquidity.

"As of March 31, 2020 the company had cash and bank balance of Rs 316 crore. As on June 7, 2020 cash and bank balance is Rs 227 crore (including undrawn bank lines)," it added.

Over reopening of theatres, PVR said that the government has come out with a phase-wise schedule.

In these guidelines cinema halls have been kept in the third phase of re-opening, where dates will be decided based on assessment of the situation.

"We are in continuous engagement with all regulatory authorities and hope to receive the necessary permissions for restarting opening in the near future," it added.

Currently PVR operates 845 screens in 176 properties in 71 cities.

Washington, Mar 11: Pop star Selena Gomez made some revelations about her personal life in a recent interview.

While explaining the lyrics of her song "Rare" on the 'Genius' YouTube channel, the 27-year-old said that there are times when she feels that she will ever be able to find a suitable partner for herself, reported Fox News.

"Some days when I wake up and I am annoyed and I am like, 'I am going to be alone forever.' But after that 15 minutes go away, I say to myself, 'I know that there is someone for everybody," the singer told in the seven-and-a-half minute long video.

However, she remains optimistic as she is still young and "this isn't the end all be all".

Elaborating upon the chorus of her song, Gomez opened up and said, "self-esteem and confidence is a constant struggle".

"It's getting better with time and age, but it will always be something that I'm working on," she added while explaining the lyrics further.

"So what I think is so important about this chorus is that it's acknowledging, 'Hey, I don't have it all. I'm not saying I'm perfect, but I do know that I'm special,' and I think that is a humble approach of saying, 'Why don't you see that I am different?'" the singer added as reported by Fox News.

Touching upon her experiences from past relationships, she commented: "In certain relationships, I've heard and I've experienced and whatnot, I think men and women do it -- especially teenagers and young people in love -- is there's this satisfaction out of hurting someone because you know that they care. Purposefully putting someone down because they want to keep them at a level. I've had someone actually say that to me before".

Mumbai, Apr 21: While the whole country continues to struggle against the COVID-19 crisis, filmmaker Rohit Shetty's name has been added to the list of renowned personalities who have come forward to give the frontline workers a boost to help them in their battle against the deadly infection.

Rohit Shetty has facilitated eight hotels across the city for the on-duty corona warriors to rest, shower and change with arrangements for breakfast and dinner. The Mumbai Police thanked Shetty for this kind gesture in keeping Mumbai safe and tweeted," #RohitShetty has facilitated eight hotels across the city for our on-duty #CovidWarriors to rest, shower & change with arrangements for breakfast & dinner. We thank him for this kind gesture and for helping us in #TakingOnCorona and keeping Mumbai safe."

Meanwhile, scores of celebrities have stepped forward in the fight against coronavirus by supporting different initiatives to help the ones going through the difficult situation due to coronavirus outbreak.

India's count of positive coronavirus cases reached 18,985 after 1,329 new cases were reported in the last 24 hours, the Ministry of Health and Family Welfare said on Tuesday.
Out of the total cases, 15,122 are active cases, 3,259 have been cured and discharged and one has migrated. With 44 new deaths reported in the last 24 hours, the toll stands at 603.