Eros International’s Q1 PAT up 60.3% to Rs 233 million

MUMBAI: Eros International Media has posted a consolidated net profit of Rs 233.3 million for the three-month period ended June, 2011, which is up 60.3 per cent as compared to Rs 145.5 million in the corresponding quarter of the previous fiscal.

The company’s total income was up 26.8 per cent to Rs 1.62 billion as compared to Rs 1.28 billion in the previous year. EBITA increased by 47.4 per cent to Rs 369.2 million as compared to Rs 250.5 million in the previous year.

In Q1 FY2012, Eros released a total of 19 films across languages and genres, which includes seven Hindi and 12 Tamil films.

The company’s revenues during the quarter were mainly driven by theatrical success of movies like Ready, Chalo Dilli and Tamil films Avan Ivan, Engeyum Kadhal and Ko; strong contribution from catalogue portfolio; stable revenues from VFX facility; and new media.

Eros International Media vice chairman and managing director Sunil Lulla said, “The company delivered excellent operational and financial progress for Q1 FY2012. A strong film slate, unparalleled distribution network, a remarkable film catalogue backed by our de-risking of revenues approach has been the backbone of growing profits for the Company. We have created a solid operating platform complete with sustainable competitive strengths, further placing us in a lead position within the sector both in India and globally. Going forward, given our distinct business model and expertise in optimally monetizing existing and upcoming content, we expect to deliver further growth in overall performance.”

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