Mumbai: Eros International Media Ltd. today announced unaudited financial results for the quarter ended December 31, 2018. The Total Income of the Company stood at INR 3,324 million, increased by 62.1% from the corresponding quarter which was at INR 2050 million
Its Adjusted EBITA stood at INR 1366 million in Q3 FY2019 as compared to INR 1100 million Q3 FY2018, a growth of 24.2% and PAT (after minority) stood at INR 630 million; PAT margins stood at 19% in Q3 FY2019
In Q3FY2019, the company released 2 medium budget and 23 small budget films and 3 digital series as compared to 4 small budget fiims in Q3FY2018
Theatrical Revenues contributed 24.6%, Overseas Revenues 23% and Television & Others 52.4% as a percentage of Income from Operation
Total Income growth driven by a healthy mix of release slate: Eros released 56 films (7 medium budget, 49 small budget) & 4 Digital Series in 9MFY2019 as compared to 16 films (1 high budget, 3 medium budget and 12 small budget films) in 9MFY2018
Strong slate across languages, active pre-sales and catalogue monetization of the films’ library resulted in a robust performance during the quarter. Eros’ investments are focused on enhancing its position as a premium content owner of Indian film and digital content while maintaining a conservative balance sheet.
Commenting on the performance of Q3 & 9M FY2019, Mr. Sunil Lulla, Executive Vice Chairman & MD of Eros International Media Ltd. said: “We are pleased to announce strong results during the quarter, delivering 62.1% Total Income growth and consistent profits. Our focused approach of choosing a balanced slate spanning genres, languages and budgets, continues to deliver positive results. During the quarter, we released a total of 25 films & 3 Digital series, comprising of an interesting mix of genres ranging from comedy to horror and crime thriller, which received encouraging responses. The theatrical slate included the critically acclaimed ‘Tumbbad’, ‘Boyz 2’ (Marathi), ‘Mumbai Pune Mumbai 3 (Marathi)’ and our twin Telugu releases ‘Amar Akbar Anthony’ and ‘Savyasachi’ amongst others. A strong slate of overseas releases of ‘Andhadhun’ (Hindi), ‘Helicopter Eela’ (Hindi) and ‘Namaste England’ (Hindi) further supported performance during the quarter.
In this quarter, we released three original web series – the crime thriller ‘Smoke’, the entertaining and quirky ‘Date Gone Wrong’ and the fun-series ‘Paisa FekTamashaDekh’ on ErosNow, which received positive audience ratings and were equally applauded by the critics. We are committed to bring fresh and engaging digital content targeted primarily to the millennial audiences on the ErosNow platform, and have an exciting pipeline of original content lined up for the upcoming quarters. We are confident with our exciting content offering the pace of subscriber addition for ErosNow will further accelerate within the fast growing millennial and post-millennial audiences, while spurring the growth and penetration in other cities for Eros Now.”
He further added, “As we look ahead, we have a compelling film slate which includes Saif Ali Khan starrer ‘Kaptan’, the trilingual remake of ‘Haathi mere Saathi’, ‘Kaamiyab’, ‘Ticket to Bollywood’, and a host of regional releases. In addition, we have a host of remarkable originals such as ‘Dashavtar’, ‘PonnyinSelvan’, ‘Flesh’, ‘Bhumi’ coming up on ErosNow, that we look forward to releasing in the upcoming quarters.”
Achievements in 9M FY 2019:
- Eros International senior management bag prestigious awards at ‘Pride of India Awards’ 2018. Kishore Lulla and RishikaLulla Singh receive ‘Most Responsible Leader’ and ‘India’s most Trusted CEOs’ Awards at ‘Pride of India Awards’ 2018 by WCRC Leaders Asia
- Kishore Lulla was awarded the Game Changers of India at the ET Global Business Summit, London Edition
- RishikaLulla Singh, CEO, Eros Digital honored at BW Business World 40 Under 40 Awards and Summit
- RidhimaLulla appointed as the Head of the ICC Western India Expert Committee on Media & Entertainment by the ICC Board
- Team Eros Now won two awards at the ‘Times National Awards for Marketing Excellence’. RishikaLulla Singh won ‘Women Leadership in Industry Award’ and the social media team won ‘Best Social Media Campaign’ for Munna Michael