Movie-goers cheer while PVR, Inox tank

Maharashtra government has allowed movie-goers to carry their own food to theatres from next month onwards. The multiplex charge exorbitant prices for food sold at their premises, which form significant part of their revenue.

The state government plans to meet multiplex owners and ask them to bring down prices of food sold to their captive audience, said news reports. This decision came following a plea in the Bombay High Court contesting that there is no legal provision prohibiting people from carrying their own food articles or water inside the theatres. Other state governments are expected to follow the suit.

Theatres and multiplexes earn more than 30 per cent of their revenue from the sale of food and beverage. The two listed movie exhibitors, PVR Limited and Inox Leisure Limited were trailing following this development.

At 14:57 hours, the stocks of Inox Leisure Limited was quoting Rs. 228.15 per share, down by Rs. 24.25 or 9.61 per cent, PVR Limited was at Rs. 1,230.40 per share, down by Rs. 166.80 or 11.94 per cent. The benchmark index BSE Sensex was at 36,530.70, down by 17.71 points or 0.05 per cent.