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Eros rides high on ‘Krrish 3’, Q3 net up 41%

krissh

MUMBAI: Eros International Media has reported a 41.1% rise in net profit to Rs 92 crore (Rs 919.9 million) for the fiscal third-quarter on the back of the box-office success of ‘Krrish 3’.

The film entertainment company posted a revenue of Rs 433.6 crore (Rs 4.34 billion) in the quarter ended 31 December 2013, up 17.2% from the year-ago period.

Consolidated Q3 net profit surges

• Total income stood at Rs. 433.64 crore ( Rs 4.33 bn), up 17.2% ( Rs 370.13 crore or Rs 3.70 bn in Q3 FY2013)
• EBIT at Rs 135.25 crore ( Rs 1.35 bn) was up 50.5% ( Rs 89.86 crore or Rs 898.6 mn in Q3 FY2013)
• Profit after tax (after minority) grew 41.1% to Rs 91.99 crore ( Rs 919.9 mn).

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Consolidated results for 9-month period ended 31 December

Eros scaled down its movie pipeline during the fiscal. The company’s slate for the nine-month period reduced to 41 from 60 a year ago.

The trimming helped Eros post a 29% jump in net profit even as revenue fell 3.6%.

Highlights:

• Total income fell 3.6% to Rs 829.33 crore or Rs 8.29 bn ( Rs 860.42 crore pr Rs 8.60 bn in 9M FY2013)
• EBIT rose 25.6% to Rs 231,69 crore or Rs 2.32 bn ( Rs 184.47 crore or Rs 1.84 bn in 9M FY2013)
• Profit after tax (after minority) at Rs 158.30 crore or Rs 1.58 bn jumped 29% ( Rs 122.71 crore or Rs 1.22 bn in 9M FY2013)

Highlights:

41 films released during 9M FY2014: 15 Hindi, 25 Tamil and 1 other regional language films compared to 60 films during 9M FY 2013 (26 Hindi, 32 Tamil and 2 other regional language films).

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ErosNow – YouTube Channel 1.7 bn video view

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Theatrical revenues boosted by release of:

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Q4FY14: successful release of ‘Jai Ho’ – a Hindi Movie & ‘1 Nenokkadine’ – a Telugu Movie

jai_ho_posters‘Jai Ho’ has by its second weekend (10 days) collected a gross of Rs 166.33 crore worldwide (Rs 102.58 crore net in India and 33 crore ($ 5.4 million) in overseas market)

Eros International Plc: Listed on New York Stock Exchange (NYSE); raised $55 mn by offering 5 mn shares at $5 each.

Healthy television satellite revenues: The company struck new deals during the period with MSM Satellite Singapore Private Limited for broadcast of films on Sony as well as with Viacom18 Media for broadcast of films on Colors. Strong catalogue revenues also kicked in during this period.