Ranbir is more popular than me, says Big B

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, April 3: American actor Kristen discussed her experience being isolated with husband and their two kiddos.

According to Fox News, the 39-year-old actor discussed how she and Shepard are finding quarantine to be a little tough in a video chat to Entertainment Tonight.

Bell admitted: "We've gotten on each other's last nerve these last couple days. We're doing much better now because were laughing about it. But when we were not laughing about it for the first couple of days, that's the hard spot."

The 'Bad Mom' actor then shared her thoughts on why quarantining with loved ones can be so tough. She explained that she loves spending time with her husband and he loves spending time with her.

But what she thinks is different about this quarantine time is you have so much more time to think about the other persona and their actions and sort of replay what they said or attach a meaning to something that they did.
Bell added: "Nobody really needs time for that. That's useless."

The 'Frozen' actor also discussed having to make adjustments in regards to her kids, 7-year-old Lincoln, and 5-year-old Delta, and the schedule she tried to keep once the quarantine began.

She said that the biggest lesson she learnt, in the beginning, was that she wrote out the colour coded schedule, and noted about when will be their academic and academic time.

Kristen explained that by day five of schedule, she was making everybody miserable. About a week ago, she woke her kids up and encouraged her daughters to rip up the schedule, explaining that the kids "felt so good."

"I said the learning lesson here is that if you make a plan and it's not working, you pivot," said Bell.

Mar 21: Singer Sonu Nigam has decided to extend his stay in Dubai as he believes travelling amid the coronavirus outbreak can put people around him at risk.

The singer was in the Himalayas earlier and wanted to come to Mumbai for a concert scheduled for March 6 but it got postponed due to COVID-19 pandemic.

He then decided to head to Dubai to be with his wife and son and has been there since a few weeks.

"I am fortunate that my wife and my son are in Dubai. My son studies here and I keep travelling here a lot, Dubai is like my second base. But my father, sister are alone in India. I wanted to come back to India and be at my father's side but I realised that if I do that, I'll be exposing him to the risk of me carrying this virus, who knows the extent of the danger," Sonu told

The 46-year-old singer said everybody is taking precautions and he wants to ensure that the health of those around him isn't at risk.

"I thought let's not outsmart the virus. I thought it's better for me to stay for a bit (till things go normal). Coming back to India, and then going in quarantine will still be a risk.

"I came to Dubai and I thought I'll be able to go back to India but I didn't know it's going to be such an issue eventually. But we are fine here."

On Friday, singer Kanika Kapoor become the first Bollywood celebrity to test positive for the deadly virus in the country and has said she is under complete quarantine and medical care.

The UP police later booked the singer for negligence and committing acts that are likely to spread disease dangerous to life after she attended at least three gatherings in Lucknow, including a party where political leaders were present.

When asked if his decision of staying back was in anyway related to what happened to Kanika, Sonu said that wasn't the case.

"The last time I was contemplating coming to India was on March 16 night, but thankfully my flight got cancelled. Then from March 17, there was this regulation from the government of India that you have to go on a self quarantine for 14 days, compulsorily. I decided I shouldn't take a chance. Being a potential carrier is the worst thing," he said

In Dubai, the singer said the family is taking extreme precautions.

"We all are being safe, staying indoors, not gathering with many people. Careless people shouldn't be around you at this point, people who are too brash, that 'oh nothing will happen.' I don't allow such people in my vicinity. I'm.very hygiene conscious anyway." said the singer.

Sonu said he will be conducting a live music concert on his social media on Sunday.