Rajni faced awkward moments in shooting for daughter’s film

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, Jun 13: American actor Gwyneth Paltrow is opening up about her experience during the coronavirus quarantine.

According to Fox News, the 47-year-old star explained to Shape magazine, the July-August cover issue of which she has graced -- that she hadn't realised just "how much the normal pace of life was overburdening our bodies, our minds, and our nervous systems."

The Goop founder explained, "As we have been forced into the confines of our own homes, that has brought up a lot of emotional distress for some, and for others, it has been very peaceful. In my case, I have experienced both."

The 'Iron Man' actor said that she has now started to "settle down" in her "brain and body."

She added of the lockdown, "It has given me new perspective about how much I will take on going forward."

Paltrow noted that before the quarantine, she was always trying to get "wellness moments" in, but she wasn't "really decompressing" until the weekends or on vacations.

"Now I feel different, letting my body go to sleep and wake up in its natural rhythm, having my kids around all the time, eating meals together and having meaningful conversations," she said of her children,16-year-old daughter Apple, and 14-year-old son Moses, whom she shares with ex Chris Martin.

Paltrow noted, "We linger at the table; our dinners are an hour and a half long. My heart feels fuller, and my mind feels calmer in that respect."

For how she de-stresses, the 'Spider-Man: Homecoming' actor said, "I try to do exercises every day for my back and neck because of all the Zoom calls I'm on."

In addition, Paltrow says she and her husband Brad Falchuk go for walks at least three to four times per week. She also takes online fitness and yoga classes.

Kochi, Feb 7: The younger brother of noted playback singer K J Yesudas was found dead in the backwaters near here, police said.

The body of 62-year old K J Justin, who had reportedly gone missing from his house in Thrikkakara near here on Tuesday evening was found floating in the backwaters near Vallarpadam Container Terminal on Wednesday, they said.

The relatives identified the body, police said adding it was later sent for autopsy at General Hospital here.

A General Hospital spokesperson said the body was handed over to his relatives on Thursday evening after autopsy was performed.

The funeral is expected to be held after the arrival of Yesudas from abroad, police sources said.

Police said the initial investigation suggested it was a case of suicide.

According to police, Jusin's relatives have informed the investigation team that he had been showing signs of suicidal tendency for the last one week as he was allegedly facing some financial problem.

His relatives were not available for comments.

Son of the renowned musician late Augustine Joseph, Justin is survived by his wife.

Justin had been a regular presence at popular ganamela programmes here in the past, sources said.