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MUMBAI :Eros International plc has posted a net profit of $28.3 million, an annual
jump of 76 per cent for the year ended 31 March 2007.
Since
the company floated in London's Alternative Investment Market (AIM) in July last
year, its maiden financial statement records the turn over rise of 48.6 per cent
to $66.4 million. Profit before tax, goodwill amortisation and IPO costs was $32.5
million from $18.4 million last year. Eros
spent $55.2 million on new film and music rights in addition to the $17.4 million
it spent locking up existing rights acquired as part of the corporate reorganization
at flotation. During the trading year, it committed a further $33.3 million on
rights to projects in hand at third party producers and some $3.4 million on other
productions to be completed in 2007 and 2008.
Eros
International plc chairman and CEO Kishore Lulla said, "Eros
International is at an inflection point, having created the
world's leading owner and distributor of Indian filmed entertainment.
Our strong first full year results as a listed company give
us confidence to forge a unique vertically integrated media
company - focused on fast-growing Indian entertainment - with
a strong position at the box office, in home entertainment
and new media. The next development phase at Eros - coinciding
with our 30th anniversary - will combine organic investment,
strategic alliances and acquisitions to further extend our
market leadership."
Eros
Music collectively grossed $50 million from its releases Omkara, Cheeni
Kum, Salaam-E-Ishq, Eklavya, and Namastey London. To
be followed by Partner, Gandhi My Father, Hey Baby, No Smoking, Sunday
and 123. | 
