Eros International’s PAT up 43% at Rs 1.17 billion

MUMBAI: Eros International Media Limited saw a jump of 43% jump in its consolidated PAT for the present financial year to Rs 1.17 billion (Rs 117.2 crore) from Rs 821 million (Rs 82.1 crore) in the last fiscal.

The company’s total income gained 9.6% to Rs 7.16 billion (Rs 716 crore) from Rs 6.54 billion (Rs 653.5 crore) in the last financial year.

Basic EPS stood at 1445 while the PAT margins moved to 16.4% from last year’s 12.6. During the year, EBIT gained 33% to Rs 1.61 billion (Rs 161.2 crore) from Rs 1.21 billion (Rs 121.2 crore). The company is cash surplus with Rs 996 million (Rs 99.6 crore).

In FY2011, Eros International released 77 films across languages. The growth in revenues were mainly driven by theatrical success of the portfolio of releases in the year notably Housefull, Golmaal-3, Endhiran and Dabangg.

Additionally, strong television syndication revenues added to the growth. The growth in digital and ancillary revenues was helped by higher music and mobile monetisation and further rollout of SVOD services across new platforms internationally as well as Eyeqube’s VFX and production services.

Investment in content has increased to Rs 5,365 million compared to Rs 2,620 million in FY2010.

During the quarter, the company implemented its Digital Asset Management platform (DAM). This new media initiative ensures optimum exploitation of Eros International’s film content across multiple platforms, globally, through comprehensive digitization of its movie library, consisting of more than 1,100 films.

Eros International has the largest visible film slate in the industry comprising 50 films for FY2012 and FY2013.

Eros International Media MD Sunil Lulla said, “It gives me great pleasure to share with you that the Company delivered impressive operational and financial progress for FY2011 with our revenues and profits increasing by 9.6% and 43.1%, respectively. Our results are even more encouraging given that this is the first full year performance that we are presenting post the Company’s listing and we are ahead of the plan that we set for ourselves. This performance demonstrates the success of Eros International’s distinct business position a leading global player in the Indian film entertainment industry, which places us at the forefront to capitalize on the immense potential in the entertainment sector. Our unique strategy including de-risking revenue by pre-sales, building a strong movie slate, tapping co-production opportunities and an expanding distribution networks enables us to manage our business in a highly efficient and profitable manner, building sustained growth in value for our stakeholders.”

“Last year has been eventful. We launched new initiatives such as the Digital Asset Management Platform enabling us to deliver film content globally across multiple formats, foraying into emerging areas of marketing and publicity of films. The development of innovative avenues for monetization for film content from a 1,100 movie library has triggered the emergence of new revenue streams,” he added.

“Going forward, our visibility for growth is promising. This is driven by an expansive movie library, robust distribution network and revenue visibility through pre-sales. Furthermore, our unparalleled movie slate for FY2012 and FY2013 comprising big star cast films substantiates our future development outlook. The Indian entertainment industry is at a nascent stage and offers several opportunities. This combined with our dominant market position and business strategies make us look forward to the future with both anticipation and optimism,” concluded Lulla.

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