Q1-17: Diversified mix boosts Eros revenue

BENGALURU: The Sunil Lulla-led Eros International Media Limited (Eros) reported 22.2 percent increase in total revenue including other income (TR) for the quarter ended 30 June 2016 (Q1-17, current quarter) as compared to the corresponding quarter of the previous year (Q1-16).

Eros reported lower revenue of Rs 411.08 crore in the current quarter as compared to total revenue of Rs 480.59 crore in Q1-16, but considering the one-time sale of digital rights of Rs. 1,44.20 crore, its revenue for Q1-16 works out to Rs 336.39 crore. The company says that a diversified movie mix that included worldwide releases of
Housefull 3, Ki and Ka, Nil Battey Sannata, Sardaar Gabbar Singh (Telugu), 24 (Tamil), amongst other releases helped in the double-digit increase in revenue.

Total comprehensive income including other income after taxes in Q1-17 increased 42.9 percent year-over-year (y-o-y) to Rs 73.87 crore (18percent margin) from Rs 51.70 crore (15.4 percent margin on Rs 336.39 crore, 10.9 percent margin on TR).

Finance cost in the current quarter increased 9.7 percent y-o-y to Rs 9.40 crore from Rs 8.57 crore. Total Expenditure in Q1-17 declined 14.4 percent to Rs 329.37 crore from Rs 384.94 crore in Q1-16. Employee Benefit Expense in the current quarter increased 52.6 percent to Rs 17.50 crore from Rs 11.54 crore in Q1-16.

The company also had a diversified revenue mix comprising Theatrical Revenues – 52.1%, Overseas Revenues – 17.2% and Television & Others – 30.7% as a percentage of Income from Operations.

Company speak

Commenting on the performance of Q1-17, Eros, executive vice chairman & MD Sunil Lulla said, “Fiscal 2017 has begun on an excellent note for Eros International with notable progress on operational and strategic parameters. Our approach towards investing in high quality portfolio of film content, which is greenlit at appropriate budgets and is monetized across various revenue streams, continues to yield positive results.".

"This year is also marked by strong pre-sales of majority of our film slate including, Dishoom, Baar Baar Dekho, Rock On 2, Banjo as well as regional films to leading satellite channels, as a part of our de-risking strategy and ensuring revenue and cash flow visibility," Lulla said.

"Q2-17 has also begun well with the power packed performance of Dishoom and Happy Bhaag Jayegi and our Telugu release Janatha Garage is heading to be the biggest Telugu grosser of this year,” Lulla added.

Latest Reads
US$ 4.5 bn expected from IPL rights; SC recommends accounts scrutiny

The Supreme Court on Friday froze all financial transactions between the BCCI and state cricket associations by directing the apex body not to disburse any funds till it resolves to abide by the Justice RM Lodha panel recommendations on reforms by 3 December . The top court ordered that none of...

Television TV Channels Sports
TVS Tyres is co-presenter for Asian Champions Trophy 2016

Continuing its strong connect with sports, TVS Tyres has associated with Asian Champions Trophy 2016 by becoming the co-presenter. The Asian Champions Trophy is one of the premier hockey tournaments, a much sought after annual international competition promising some great hockey action. This...

Television TV Channels Sports
Q2-17: Zee Learn declares maiden interim dividend

The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter).

Television TV Channels Factual & Documentary
Whether BARC action can stop unethical practices?

Whether businesses and industries practice their art of selling fairly although they have 'Fair Practices' training during the academic courses, workshops and several ISO and other certifications? There seems to be the fear of the lawman, and not the law in India.

Television TV Channels Viewership
TV Superhighway: beIN, Yaddo, AfricaXP have joined us, says Magine CEO Ambuj Goyal

CANNES; Magine has secured partnerships with four of the industry’s most exciting sports, documentary and entertainment content providers. Partnerships with beIN, the international media group and owner of MIRAMAX; Yaddo, the new documentary streaming service headed up by former head of The BBC’s...

Television TV Channels Factual & Documentary
Colors emerges strong on strength of Naagin I & II

MUMBAI: One of the top rated shows Naagin Season 2 helped Colors reach a top-ranking position.

Television TV Channels GECs
Pakistan Broadcasters Association to oppose PEMRA Indian content ban

MUMBAI: The Pakistan Electronic Media Regulatory Authority (PEMRA) shocked both Pakistan and Indian broadcasters when it issued an order blanking out  all Indian content from Pakistan’s television channels on 19 October.

Television TV Channels GECs
Sony Pix to telecast 'Jurassic World' on 22 October

Sony Pix will take the viewers on a thrilling, adventurous journey with cloned dinosaurs in their Billion Dollar Premiere property. The channel plans to air Jurassic World on 22 October at 1 pm and 9 pm.

Television TV Channels English Entertainment
Sony AXN scripts deal with Pinewood; buys stake in SVOD service Hopster

Folks at Sony Pictures Television (SPT) are in a celebratory mood. Not only has it signed a six-series deal with Pinewood Television but has also acquired a minority stake in the London-based video subscription service for kids content - Hopster.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories