Eros International reports 40 per cent PAT q-o-q growth in Q2-2015

BENGALURU: The Sunil Lulla led Indian motion picture production and distribution company Eros International Media Limited (Eros) reported 39.9 per cent growth in PAT at Rs 50.14 crore (20.9 per cent of net Total Income from Operations or TIO) in Q2-2015 from the Rs 35.84 crore (14.8 per cent of TIO) in Q1-2015 and 35.6 per cent growth from the Rs 36.97 crore (18.4 per cent of TIO) in the corresponding year ago quarter. In HY-2015, PAT grew 35.1 per cent to Rs 85.98 crore (17.9 per cent of TIO) from Rs 63.64 crore (16.4 per cent of TIO) in HY-2014.


Note: 100,00,000 = 100 lakhs = 10 million = 1 crore


The company reported almost flat q-o-q TIO (down by 0.7 per cent) in Q2-2015 at Rs 239.90 crore versus the Rs 241.49 crore in Q1-2015 and 19.3 per cent TIO growth from the Rs 201.05 crore in Q2-2014. Revenue (TIO) for HY-2015 grew by 24.3 per cent to Rs 481.39 crore from Rs 387.37 crore in HY-2014.


Eros released 30 films -20 Hindi and 10 Tamil/Telugu regional films in HY-2015 as compared to the 26 films (11 Hindi, 14 Tamil/Telugu and 1 other language) in HY-2014. Eros says that 2 of the films were high budget and 28 were medium and low budget films.



Let us look at the other numbers reported by Eros for Q2-2015 and HY-2015


Eros Total Expenditure (TE) in Q2-2015 at Rs 168.19 crore (70.1 per cent of TIO) was 8.9 per cent lower than the Rs 184.68 crore (76.5 per cent of TIO) in Q1-2015 and 11.3 per cent more than the Rs 151.16 crore (75.2 per cent of TIO) in Q2-2014. TE in HY-2015 at Rs 352.87 crore (73.3 per cent of TIO) was 17.9 per cent more than the Rs 299.24 crore (77.2 per cent of TIO) in HY-2014.


The company’s finance cost in Q2-2015 at Rs 10.92 crore (4.6 per cent of TIO) was 16.5 per cent more than the Rs 9.37 crore (3.9 per cent of TIO) in Q1-2015 and 76.1 per cent more than the Rs 6.2 crore (3.1 per cent of TIO) in Q2-2014. For HY-2015, finance cost at Rs 20.29 crore was almost double (up 1.88 times) the Rs 10.81 crore in HY-2014.


Eros managing director Sunil Lulla said, “We reported healthy results in the first half driven by the performance of new releases in Hindi and regional languages and robust monetization of library films over existing and emerging distribution channels. We remained focused towards diversifying mix of movies with increasing emphasis on high profile regional language films with our tentpole Hindi language films.”


“Our ErosNow initiative continued to gain momentum as we premiered a whole host of films on this online service. We will be launching a new mobile app for ErosNow by the end of this year and along with our recently announced Techzone acquisition, we are positive about increased uptake of this unique service in the near future,” added Lulla.


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