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Covid Effect on Multiplex: Due to the third wave of the Kovid-19 epidemic, the construction and renovation work in the multiplex sector will lag behind by at least five months. Domestic rating agency Crisil Ratings has estimated this.
Crisil Ratings report released on Monday
Crisil Ratings said in a report on Monday that due to the arrival of the third wave, the governments are temporarily closing cinemas. Due to this, a complete revival in the revenue of the multiplex will now be possible by the second half of the next financial year. Earlier this was expected to be achieved in the first quarter, Crisil Ratings said, “However, once the curbs are lifted, the revival will be much faster than it was seen after the second wave.”
The coming 5 months will be tough for multiplexes
Nitesh Jain, Director, Crisil Ratings said, “Cheaters in New Delhi/NCR, Bihar, Haryana have been temporarily closed. Apart from this, some other important states like Maharashtra have also imposed curbs. This will postpone the release of new films. And the business of multiplexes will be affected. The coming five months are going to be very difficult for the multiplex sector.”
Expected improvement in the first quarter of the next financial year
Jain said that the release of some big films has already been postponed indefinitely. He said the third wave is expected to reach its ‘peak’ in February and come down by the end of March. In such a situation, big films will now be released only in the first quarter of the next financial year i.e. 2022-2023.
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