Movies

Eros ups Ist half turnover by 59% to $34.6 million

MUMBAI: Eros International‘s turnover stands at $34.6 million for the six month period ended 30 September 2007, up 58.7 per cent from a year ago period.

Eros‘ profit before tax is up 75.9 per cent at $13.6 million.


Cash flow from operating activities stands at $15.4 million for the six months period ended 30 September 2007.


During this period, Eros has acquired 51 per cent in Ayngaran to enter the Tamil film market. In collaboration with Hollywood visual effects talent Cahrles Darby, it has launched a post-production unit called Eyecube Studios. It has also signed a deal with Sony Pictures to co-produce a slate of films.


During the period, Eros International has signed new deals with Sky Anytime, Joost, NME, Vudu, Mauritius telecom and Singnet in the new media section.


In March 2007, it has signed a TV syndication deal with Sony.


Besides it has expanded distribution network with mainstream cinema chains and DVD retailers.


Eros International CEO and chairman Kishore Lulla said, "Eros has continued to deliver on its strategy of consolidating the Indian entertainment market, expanding its audience reach by leveraging its local distribution network. We are delighted with our continuing momentum and our ability to deliver growth and profits while maintaining margins.


Our content library and global distribution infrastructure separates us from other players in the space. Our business is still at an inflection point and we are confident that we have the strategy as well as management to take advantage of the immense opportunity in front of us. We remain confident of a successful outcome to the current financial year."

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