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Eros FY15 net up 23.7% to Rs 247.1 crore
MUMBAI: Filmed entertainment company Eros International has posted a 23.7 per cent jump in net profit for the financial year ended 31 March 2015.
Net profit (after minority interest) was at Rs 247.1 crore (Rs 2.47 billion), as against Rs 199.7 crore (Rs 1.997 billion) a year ago.
Total Income increased by 26.4 per cent during the fiscal to Rs 1,441 crore (Rs 14.41 billion), from Rs 1,139.6 crore (Rs 11.4 billion) in FY14.
Eros said it reported healthy growth in revenues on the back of new movie releases and robust monetisation of catalogue films. Overall, Eros released 64 films during the fiscal, including 44 Hindi and 20 Tamil/Telugu films, as against 69 films in FY14 (37 Hindi, 30 Tamil/Telugu and 2 regional language films).
Incidentally, there were seven big budget, 10 medium and 47 low budget movies that released in FY15. The previous fiscal saw the release of four big budget, 21 medium and 44 low budget movies.
Catalogue monetisation had a 22 per cent share of Eros’ total revenues in FY15.
Meanwhile, theatrical revenues contributed 38 per cent, while television and others’ contribution was 31.3 per cent. The share of overseas revenue to the total pie was around 30.7 per cent.
Eros’ EBIT also saw an increase of 20.7 per cent to Rs 361.6 crore (Rs 3.62 billion), up from Rs 299.7 crore (Rs 2.997 billion) a year ago.
Eros International Media MD Sunil Lulla said, “We have concluded the fiscal on an excellent note based on our strategy of investing in content-backed Hindi and regional movies and extensively monetising it across all platforms such as theatrical, television and digital. The year has reinforced our belief in the portfolio approach to movie-making, which enables us to deliver sustained growth supported by consistently strong pre-sales. Our footprint in the regional market in particular has worked very well for us.”
During the fiscal, Eros launched a motion pictures production company. Trinity Pictures will focus on developing intellectual property in-house, with special emphasis on franchise films.
Meanwhile, its video streaming service Eros Now crossed 14 million registered users (combination of free, transactional and premium users) across all its platforms in India. The company believes that the service has strong potential to draw digital revenues.
“We are excited about our new venture Trinity Pictures that will build franchise films and look forward towards capitalising on digital revenue opportunity through ErosNow.”
Eros released movies like ‘NH10’, ‘Badlapur’, ‘Tevar’, ‘Shamitabh’, ‘Action Jackson’, ‘Lingaa’ (Multi-lingual), ‘Kaththi’ (Tamil), ‘Kochadaiiyaan’ (Multi-Lingual), ‘Aagadu’ (Telugu), ‘Singham Returns’ (Overseas), ‘Mary Kom’ (Overseas), ‘Ek Villain’ (Overseas) and ‘Main Tera Hero’ (Overseas) during the fiscal.
For the quarter ended 31 March, 2015, Eros’s net profit was up 24.9 per cent to Rs 51.7 crore (Rs 517 million), compared to Rs 41.4 crore (Rs 414 million) in the corresponding quarter of the previous fiscal.
Total income was up a whopping 50 per cent to Rs 465.6 crore (Rs 4.66 billion), compared to Rs 310.3 crore (Rs 3.10 billion) in the year ago period.
EBIT was up 21.9 per cent to Rs 82.9 crore (Rs 829 million), from Rs 68 crore (Rs 680 million) in the year ago period.
During the quarter, 22 movies were released consisting of 17 Hindi and 5 Tamil/Telugu films as compared to 28 films during Q4 FY14, which included 22 Hindi and 5 Tamil/Telugu and 1 regional language film.