Movies

Eros' Q1 net zooms on strong movie slate


MUMBAI: Eros International Media, the pure play movie production company, has posted a consolidated net profit of Rs 233.3 million for the three-month period ended June, up 63.3 per cent in the corresponding quarter of the previous fiscal.


Total income of the company grew 26.8 per cent to Rs 1.62 billion compared to Rs 1.28 billion in the earlier year.


The company said that increase in revenue is because of the theatrical success of movies like Ready, Chalo Dilli and Tamil films Avan Ivan, Engeyum Kadhal and Ko; strong contribution from catalogue portfolio; stable revenues from VFX facility; and new media.
 
Eros? Ebitda for the quarter increased by 47.4 per cent to Rs 369.2 million (from Rs 250.5 million). It released a total of 19 films across languages and genres, including seven films in Hindi and 12 in Tamil.


Commenting on the results Eros International Media vice-chairman and MD Sunil Lulla said, "A strong film slate, unparalleled distribution network, a remarkable film catalogue backed by our de-risking of revenues approach has been the backbone of growing profits for the company. We have created a solid operating platform complete with sustainable competitive strengths, further placing us in a lead position within the sector both in India and globally."

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