Last year (FY-2013), the company entered the Rs 1000 crore club with revenue of
Rs 1067.75 crore. In Q1-2014, three movies - Raanjhaana, Go Goa Gone
(GGG) and Yeh Jawani Hai Diwani (YJHD) raked in the moolah at the box
office for Eros International Media Limited (Eros).
The company says that
theatrical revenues during Q1-2014 have showcased the success of global releases
of Raanjhaana, GGG and YJHD (Overseas). Raanjhaana
achieved an impressive box office collection of Rs 100 crore worldwide; YJHD
had an overseas collection of more than Rs 60 crore, while GGG had a
worldwide collection of Rs 43 crore.
Eros announced consolidated income
for Q1-2014 at Rs 194.2 crore, 25.1 per cent lower than the Rs 259.3 crore during
the corresponding period in 2013 (Q1-2013) and 9.2 per cent lower than the Rs
213.9 crore for Q4-2013 (q-o-q).
During Q1-2014, Eros released 12 films - (seven Hindi and five Tamil
and other regional languages), almost half of the 23 films - (five Hindi and 18
Tamil and other regional films) in Q1-2013 and almost a third less than the 17
films - (four Hindi and 13 Tamil and other regional films) in Q4-2013.
Eros managing director Sunil Lulla said, “Eros has delivered an encouraging
Q1-2014 result in context of the film mix that it released in the Q1-2013.
Raanjhaana, YJHD and GGG all delivered at the box office
and were subsequently monetised through other revenue streams as well. Relative
to their budget, the mix of films performed extremely well and demonstrates our
ability to scale and change our mix to take advantage of market trends.
Let us look at
some of Eros’ other figures for Q1-2014
Q1-2014 at Rs 148.03 crore was 28.5 per cent lower than the Rs 207 crore for Q1-2013
and 14 per cent lower than the Rs 172.21 crore for Q4-2013.
interest and tax (EBIT) for Q1-2014 at Rs 46.1 crore was 11.9 per cent lower than
the Rs 52.3 crore for Q1-2013 and 10.4 per cent more than the Rs 41.75 crore for
PAT (after minority) for Q4-2014 at Rs 29.3 crore was 6.7
per cent lower than the Rs 31.4 crore in Q1-2013 and 7.9 per cent lower than the
Rs 31.8 crore for Q4-2013.
Lulla said, “We are really excited about
our collaboration with HBO and believe that the two premium channels will gain
momentum with subscribers as we launch on further DTH and digital cable platform.
The industry trends are testimony that premium content will be an important factor
to drive demand and we are proud to be forerunners in that space.”
“We continue to expand our film content through our diversified approach
of acquiring a healthy mix of movies. Our current future slate remains well-funded
and we have several high profile movies lined up like Kochadiyan, Ram
Leela, Rambo Rajkumar, Happy Ending and
a number of high concept movies that are slated to be released in FY-2014. Our
business has a natural Q3 skew due to film releases around the festival season
and this year is no different and we remain positive on the outlook for FY-2014,”
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