Mumbai: Eros International Media Limited (Eros International), a leading global Company in the Indian film entertainment industry, today announced its consolidated financial results the quarter and full year ended September 30, 2016.
The revenue Q2FY17 was recorded at Rs. 4,887 million as against Rs. 4,104 million in Q1FY17; up 19.1%. Net Profit Q2FY17 stands at Rs. 630 million compared to Rs. 589 million in Q1FY17; up 7%.
Operational Highlights:
- Theatrical revenues during the quarter were driven by worldwide releases such as Dishoom, Janatha Garage, Baar Baar Dekho, Happy Bhaag Jayegi, Banjo amongst other releases
- The Company released a total of 17 films during the quarter (20 films in Q2 FY 2016)
- Company recognized satellite sales of Dishoom, Housefull 3 and Sardaar Gabbar Singh (Hindi) during Q2 FY17 amongst others along with robust catalogue sales
- Theatrical Revenues contributed – 35.8%, Overseas Revenues – 39.1% and Television & Others – 25.1% as a percentage of Total Income
- Under the revised Relationship Agreement, Overseas revenues now realize 48% of the production costs of the films w.e.f. 1st April, 2016
Eros India commences Digital Production ErosNow
- ErosNow’s landmark initiative ‘Salute Siachen‘ celebrates 35 years of the first journey made to Siachen by the Indian Army in 1981 – to be released soon on ErosNow
- Famous personalities such as Arjun Rampal, Arunoday Singh, Rudra Pratap Singh, Yuvraj Walmiki, Rannvijay Singh along with others are a part of the select squad to salute the courage of India’s soldiers manning the posts in extreme adverse conditions
Commenting on the permance of Q2 FY2017, Mr. Sunil Lulla, Executive Vice Chairman & MD of Eros International Media Ltd. said, “This quarter marks robust revenues the Eros catalogue, which is our premium asset, and reflects our investments in the film business over the years. Over the past many years, Eros has successfully developed an effective de-risking strategy, which includes building solid pre-sales, green lighting films at suitable budgets and monetizing them across various revenue streams. This strategy has not only helped in protecting our films an unpredictable demand environment, but has also safeguarded the company’s investments, thereby ensuring steady cash flows and revenue visibility. We had over 110% of costs covered through pre-sales across revenue streams like theatrical, satellite and overseas during the H1 FY 2017.
Looking ward, we have a host of highly-anticipated releases such as Rock On 2, Chaar Sahibzaade 2, Saat Kadam, Kahani 2 (overseas), Ticket to Bollywood amongst others. Overall, we believe that the multiple growth initiatives undertaken by us over the last few quarters will enable us to deliver sustainable permance in the coming years.”
