Impact of Covid-19 on Financial Performance: A Study of Selected Entertainment Companies in India

Abstract

The global Covid-19 pandemic brought about unprecedented disruptions across industries, including the entertainment sector. The goal of this study is to thoroughly analyse the financial performance of two wellknown entertainment businesses in India, PVR INOX Ltd. and Saregama India Ltd. The study's two main goals are to compare the financial results of these entertainment companies and to examine the specific effects of the Covid-19 pandemic on those results. The research methodology mainly relies on secondary sources of data, which have been gathered from a variety of reliable sources including Annual Reports, News Sources, and Financial databases. These data sources present a thorough and complete picture of the performance and financial health of the selected businesses. Two significant Indian entertainment companies having a separate flavour of business type- PVR INOX Ltd. and Saregama India Ltd., make up the sample size for this study. The study examines the period from 2020-21 to 2022-23, referred to as the Post Covid-19 period, through the analysis of their financial data and contrasts it with the data from 2017-18 to 2019-20, referred to as the Pre Covid-19 period. The impact of the pandemic on these companies' financial performance can be thoroughly examined thanks to this temporal division. The study's results advance knowledge of the Covid-19 pandemic's effects on a few Indian entertainment companies' financial performance. The study provides useful insights into the adaptability, resilience, and strategies used by these companies during times of crisis by comparing financial metrics and analysing trends between the Pre and Post Covid-19 periods. For stakeholders, investors, policymakers, and researchers in the field, this research is particularly pertinent in that it sheds light on how the entertainment sector has responded to previously unheard-of challenges.