PVR Chairman Ajay Bijli Shared His Experiences On How His Company Navigated Through Pandemic

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PVR Chairman and Managing Director Ajay Bijli shared how the Covid-19 pandemic shocked the box office. He recalled how 100 million Indians came to the theatres in 2019, but that completely changed in March 2020, when cinemas were shut down.
“We were the first ones to be shut down and the last ones to have opened,” Bijli said, signalling how the sector was one of the hardest hits.
“Suddenly, the revenues came to zero and we didn’t have any other avenues. Our is a very simple business. The shutters are up, business is up, shutters are down, business is zero,” he said.
Ajay Bijli underlined some strategies that helped PVR navigate through the crisis. “Since we didn't have any other avenues, cost was the only thing that we could reduce and shore up liquidity. Most of my people took a 50 per cent haircut in their remuneration without me even asking,” he said.

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