Eros International Q2 net profit at Rs260.8mn

India Infoline News Service | Mumbai |

Total Income increased by 32% to Rs. 2,310.5 mn (Rs. 1,755.3 million in Q2 FY2012)

Eros International Media Limited (Eros International), a leading global company in the Indian film entertainment industry, today announced its consolidated financial results for the quarter and half year ended Sep 30, 2012 (Q2 FY2013).

Financial Highlights:

Total Income increased by 32% to Rs. 2,310.5 mn (Rs. 1,755.3 million in Q2 FY2012)

EBIT increased by 4% to Rs. 423.5 mn (Rs. 407.4 million in Q2 FY2012)

Profit after tax (after minority) decreased by 5% to Rs. 260.8 million (Rs. 273.5 million in Q2 FY2012)

Diluted EPS at Rs. 2.81 (Rs. 2.98  in Q2 FY2012)

Operational Highlights:
Eros International released 42 films during H1 FY2013 in different languages which included 8 Hindi, 34 Tamil and other regional languages (42 films in H1 FY2012). In Q2FY2013, Eros released 19 films. 3 Hindi, 16 Tamil and other regional language films (23 films in Q2FY2012)

Theatrical revenues during H1 FY2013 have showcased the success of global releases namely ‘Housefull 2’, ‘Vicky Donor’, and ‘Cocktail’

‘Housefull 2’, a sequel to the 2010 hit ‘Housefull’, reported a net box office collection of Rs. 149 crore worldwide

Vicky Donor’, a high concept modestly budgeted new star cast film, reported a commendable net box office collection of Rs. 45 crore worldwide

 ‘Cocktail’, a youth centric film, was well received by the audiences and reported a net box office collection of Rs. 102 crore worldwide

Other releases like ‘Ferrari Ki Sawaari’, ‘Teri Meri Kahani’ and ‘Shirin Farhad Ki NIkal Padi’ also contributed to the overall revenue during the period

Performance was also driven by satellite syndication deals for releases including ‘Housefull2’, ‘Cocktail’, ‘Ferrari Ki Sawaari’ ,’Shirin Farhad Ki Nikal Padi’ and ‘Vicky Donor’ and a host of catalogue films

 Music syndication deals and self exploitation of music titles for films like ‘Cocktail’, ‘Teri Meri Kahaani’, ‘Shirin Farhad Ki Nikal Padai’, ‘English Vinglish’ and ‘Vicky Donor’ contributed to the overall performance

 Eros Now, a dedicated on-demand entertainment portal accessible via internet-enabled devices, has gone commercially live on a global scale. The platform is currently available on I-Pads globally and will be optimised further for Android and other devices. The services carries several hundred full length films, thousands of music videos and music tracks and the Company will shortly be extending the offering with Tamil movies.

Views of our content on Youtube, including the the Eros Now channel passed two billion in July 2012 and were over 500 million in H1 FY2013

Executive Comment:
 Sunil Lulla, Managing Director, Eros International Media Ltd. said, “The first half of the fiscal has been encouraging and although Q2 did not have any major releases, we are pleased to have delivered strong results. We are delighted with the performance of not only the high profile films such as 'Housefull 2’ and ‘Cocktail', but also small budget films such as 'Vicky Donor'. It is encouraging to see the audience response to high quality content whether it is an established star cast or new talent. Combining high concept content with strong marketing and a well-devised distribution plan is a key strategy for us.
H2 FY2013 has begun on a very exciting note with overwhelming success of the highly rated wholesome family entertainer 'English Vinglish' and ‘Maatran’ (Tamil). The line-up for the rest of the fiscal 2013 is also very promising with high profile films such as ‘Son of Sardar’, ‘Khiladi 786’ and ‘Kochadaiyaan’.
We continue to monetize our new and existing content over a host of platforms and constantly focus at leveraging new and emerging opportunities. Our robust business model combined with a de-risking strategy and large catalogue facilitates consistent growth and enables us to maintain our leadership position in the sector.”



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