Published - May 24, 2018 9:51 AM Updated: May 24, 2018 9:51 AM
Eros International Media Ltd. (BSE Script Code: 533261; NSE Script Code EROSMEDIA) the Indian Film and Digital Studio reported its unaudited financial results for the quarter ended March 31, 2018.
The company reported robust quarterly income up by 22.5% at ₹2578 million and EBIT Margin at 41.3% at ₹1066 million thus illustrating momentum for the company ahead as Profits after Tax has grown 80.4% to ₹608 million and the EBIT margins have expanded from 26.1% in FY2017 to 36.4% in FY2018 and PAT margin has expanded from 17.8% in FY2017 to 22.7% in FY2018.
Commenting on the performance of Q4 and FY2018, Sunil Lulla, Executive Vice Chairman & MD of Eros International Media Ltd., said, “The pioneering spirit is prevalent in our leadership DNA as we further consolidate a fragmented market place as well as making Indian filmed entertainment truly global. As the dynamics of the country change with connectivity at the core of distribution we are uniquely positioned to leverage these trends with content being the key driving force. Our strategy of a content driven approach reflected in a robust green lighting process enables us to de-risk our model.”
Sharing his thoughts on the future, Lulla added, “We look forward to fiscal FY19 by further proving our strategies and paving the road ahead for a truly global Indian entertainment experience. With content slate and scale being a key driver, we make strides foraying into original content, we are confident our film and originals slate will contribute further to accelerating Eros Now’s growth which this year itself is over 270%.”
Eros sharpened its focus on profitability by investing in content-driven films with high ROI potential and low risk profile, which helped it build a successful slate with ‘Newton” India’s entry to the Oscars, hit comedy Shubh Mangal Savdhan and sports based drama “Mukkabaaz’.
In the current slate mix are “Aamhi Doghi” (Marathi), “Rong Beronger Kori” (Bengali), “Oru Kidayin Karunai Manu” (Tamil), “Aake” (Kannada) and “Viswa Vikhyatharaya Payyanmar” (Malayalam) amongst others. The future slate also has a trilingual remake of the classic film “Haathi Mere Saathi” and “Bhavesh Joshi” to name a few.
Additionally, the company’s ₹10 billion ($150 million) joint venture with Reliance adds significant scale to Eros’ pre-existing slate while mitigating investment risks as it will benefit by leveraging the robust distribution network. Eros will collaboratively grow this joint venture to strengthen the company fundamentals- content creation, distribution.
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