Bureau report : Multiplex chain PVR INOX has reduced the price of food items by 40%. The company faced backlash over its rates on social media. The company has now introduced a food combo for Rs 99. On the other hand, the GST Council on July 11 has reduced the GST levied on food and beverage bills in cinema halls from 18% to 5%. The positive effect of this decision is being seen in the multiplex, which was facing a tough challenge from the OTT platform.
At the beginning of this year, Inox and PVR had merged to compete with OTT. After the merger, it became the largest multiplex chain in India and the fifth in the world with more than 1500 screens. At the top is the ANC Theater which has 10,500 screens.
According to the company’s website, it currently has 360 properties and more than 1600 screens in 114 cities in India and Sri Lanka. Recently, he has opened 15 screens in Delhi and Ahmedabad. There is a plan to take the number of screens from 3,000 to 4,000 in the next 5 years.
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