Big releases lift Eros' FY?12 net up 26% to Rs 1.5 bn

MUMBAI: Eros International Media, the pure play movie production company, has posted a consolidated net profit (after minority interest) of Rs 1.48 billion for the fiscal ended 31 March 2012, up 26.1 per cent as compared to Rs 1.17 billion a year ago.

Total income jumped 34.5 per cent to Rs 9.63 billion.

Eros International Media MD Sunil Lulla said: "I am delighted to announce our results for FY?12, a year in which the company achieved continued growth and margin expansion. The results and growth have been underpinned by box office success of our major film releases as well as contributions from our underlying business model that monetizes content across multiple distribution channels. Our continued investment in content has yielded what we believe is a strong movie slate for FY2013, supported by the box office performance of ?Housefull 2? and ?Vicky Donor?, that we hope to strengthen further."

The company released a total of 77 films during the fiscal, including 20 Hindi and 50 regional language films. The list includes Ra. One, Zindagi Na Milengi Dobara, Ready, Rockstar and Desi Boyz and Tamil films like Velayudham, Mambattiyan, Engeyum Kadhal, Vedi, 3, Rajapattai, Nanban.

Eros? Ebit for the fiscal increased by 39.9 per cent to Rs 2.26 billion (FY2011: Rs 1.61 billion).

Meanwhile, for the quarter ended 31 March, the net profit jumped 118.5 per cent to Rs 297.1 million, up from Rs 136 million in the corresponding quarter of the previous fiscal.

Total income in the quarter grew 88.5 per cent to Rs 2.2 billion, from Rs 1.16 billion in the year -ago period.

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