Eros International Media Q4 net profit jumps 14.6% to Rs 69.7 cr

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MUMBAI: Eros International Media’s net profit for the quarter ended 31st March has jumped 14.6% to Rs 69.7 crore compared to Rs 60.8 crore in the corresponding quarter of the previous fiscal. PAT Margins stood at 26.5% in Q4 FY19 as compared to 23.6% in Q4 FY18.

EBIT declined 7.3% to Rs 98.8 crore from Rs 106.6 crore in the previous fiscal. EBIT margins stood at 37.5% as compared to 41.3% in Q4 FY18.

Total income jumped 2.1% to Rs 263.2 crore from Rs 257.8 crore. Direct Costs stood at Rs. 86.6 crore including Rs. 61.9 crore of content amortisation.

The company said that 16 films across languages and 7 digital series, together with TV, Overseas and catalogue revenues contributed to the quarterly performance. During the quarter, the company released, 16 films across languages and 7 Digital series.

Eros released 7 original series – Operation Cobra, Meri Khoj Mere Haath, Flip, Ennaya, Metro Park, Tum Se Na Ho Paayega and The Investigation on Eros Now, parent Eros International Plc’s OTT platform. All 7 original series have been widely appreciated by the audiences. Reached FY19 guidance of 16m paying subscribers early – in less than nine months Now targeting over 50 million paying subscribers in 3 years.

In FY19, net profit increased 17.4% at Rs. 269.1 crore from Rs. 229.3 crore in FY18. PAT Margins stood at 23.6% in FY2019 as compared to 22.7% in FY18. The EBIT stood at Rs. 395.1 crore compared to Rs. 367.8 crore in FY18, an increase of 7.4%. EBIT margin stood at Rs. 34.7% in FY19 as compared to 36.4% in FY18.

Total Income stood at Rs. 1139.7 crore as against Rs. 1010 crore in FY18, an increase of 12.8%. The revenue split across segments for FY2019 was: Theatrical – 28.0%, Television and Others – 53.5% and Overseas segment – 18.5%.

Revenues during the period were driven by releases of Gone Kesh, Mumbai Pune Mumbai 3 (Marathi), BoyzII (Marathi), Happy PhirrBhagJayegi’, the critically acclaimed Manmarziyanand Patakhaa, KelavuDinagala(Kannada), Roll No. 56 (Gujarati), Bhagshesh(Bengali), Eros Now originals – Smoke, Operation Cobra, Flip, Side Hero, Saakshyam (Telugu), Tc.Gn- Take Care Good Night (Marathi) amongst others.

Healthy performance from the overseas releases of Andhadhun, HelipcopterEela, Batti Gul Meter Chalu and Blackmail, amongst others also supported performance during the period under review.

Direct Costs stood at Rs. 472.1 crore in FY19 including Rs. 296.4 crore of content amortisation.

Commenting on the performance of Q4 & FY19, Eros International Medi Executive Vice Chairman & MD Sunil Lulla said, “Our investments are focused on enhancing our position as a premium content owner of Indian film and digital content while maintaining a conservative balance sheet. We have a strong focus on films that don’t just rely on box office performance and therefore we invested on expanding our presence in digital content creation. In this quarter we released 7 original series – Operation Cobra, Meri Khoj Mere Haath, Flip, Ennaya, Metro Park, Tum Se Na Ho Paayega and The Investigation on Eros Now, parent Eros International Plc’s OTT platform and a total of 16 films across languages. A mix of film content across languages and an increase in digital content creation, together with catalogue revenues contributed to the quarterly performance and definitely enhanced the year-on-year growth.”

He further added, “Our margin is expanding with content-driven films, strong pre-sales strategy, catalogue monetization and now with additional presence & focus on digital it will only enhance our offerings. We hope to take entertainment to the audience which is no longer bounded by geographical boundaries, and for that content creation with strong distribution will definitely strengthen our balance sheet and margins for shareholders in the future.”


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