|
MUMBAI:
Strong box office collections helped Indian film production
and distribution company Eros International Media to
report a 45 per cent increase in net profit in the first
quarter ended 30 June 2012.
Eros’
net profit in the first quarter was Rs 314.10 million,
up from Rs 217 million a year ago.
The
company said its total income rose 60 per cent to Rs
2.59 billion in the first quarter from Rs 1.62 billion
a year earlier on strong theatrical revenue growth driven
by robust theatrical pre-sales and box office performance
of Housefull 2, Teri Meri Kahaani, Vicky Donor and Ferrari
ki Sawaari.
Eros’s
operating profit increased 42 per cent to Rs 523 million
during the first quarter of 2012-13 from Rs 369 million
a year earlier.
During
the quarter, the company released five Hindi language
films and 18 Tamil and other Indian language films.
Strong demand for satellite rights for the films also
drove revenue growth. As part of the pre-sales strategy,
Eros has signed a licensing agreement with Viacom18
Media. Accordingly, Viacom18’s Colors television
channel will exclusively telecast Cocktail, Shirin
Farhad Ki Toh Nikal Padi, Khiladi and catalogue films.
Eros
International Media MD Sunil Lulla said, “We
are once again proud to have picked a fine slate of
films such as Housefull 2, Ferrari ki Sawaari and
Vicky Donor which have not only performed well at
the box office but also been successfully monetised
across television and digital platforms.”
“We
have continued to optimise our de-risking strategy
with the combination of pre-sales and self distribution
to give us consistent cash flow and provide visibility
of revenues. We are especially encouraged by the box
office success of a modest budget film like Vick Donor
which demonstrated potential for smaller films among
a growing multiplex audience and widening the appeal
of our films.”
Films
slated for release by Eros over the next two years
include Chakravyuh by Prakash Jha (starring Arjun
Rampal, Abhay deol), Attacks of 26/11 by Ram Gopal
Varma, Go Goa Gone (starring Saif Ali Khan), Tanu
Weds Manu Season 2, Namak starring Shahid Kapoor and
directed by Prabhu Deva and Sarkar 3 by Ram Gopal
Varma, starring Amitabh Bachchan, Abhishek Bachchan.
| 
