Jai Ho box office collections near Rs 200 crore, Salman Khan scripts another success

Written by FE Online | New York/Seattle | Updated: Feb 22 2014, 20:13pm hrs
Jai ho-Salman KhanSalman Khan-starrer Jai Ho box office collections have almost made it a Rs 200 crore movie.
Salman Khan-starrer Jai Ho box office collections have almost made it a Rs 200 crore movie, but Eros is more than that.

Eros International Media Limited (Eros International) financial results for the quarter and nine months ended December 31, 2013 (Q3 & 9M FY2014) are in public domain and here is what made it possible.

January saw the successful releases of two major releases for Q4 2014, namely Hindi movie 'Jai Ho' starring Salman Khan and Telugu movie '1 Nenokkadine' starring Mahesh Babu, with both films being backed up with strong pre-sales.

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

* 41 films released by Eros International Media Ltd during 9M FY2014, including 15 Hindi, 25 Tamil and 1 other regional languages film compared to 60 films during 9M FY 2013 including 26 Hindi, 32 Tamil and 2 other regional language films.

Eros International continues to deliver strong operational and financial performance. company has showcased its success with prominent releases such as Ram Leela, RRajkumar, Grand Masti, Raanjhaana, Krishh 3 (Overseas), Yeh Jawaani Hai Deewani (Overseas) and Phata Poster Nikla Hero (Overseas). These releases are being continuously monetized over several distribution platforms, Sunil Lulla, Managing Director, Eros International.

* Strong theatrical revenues: 9M FY2014 have showcased the success of global and overseas releases namely Ram Leela, R Rajkumar, Grand Masti, Raanjhaana, Krishh 3 (Overseas), Yeh Jawaani Hai Deewani (Overseas), Phata Poster Nikla Hero (Overseas)

* The performance during 9M FY2014 was also backed by other regional and overseas releases like Fukrey (Overseas), Lootera (Overseas), Shoot out at Wadala (Overseas), Ek Thi Dayan (Overseas) and Rangeelay (Punjabi) and Tamil films such as Arambam starring Ajith which was a Diwali release.

* The company is successfully executing its strategy of having a diversified portfolio of Hindi, Tamil and other regional language films with emphasis on a healthy mix of high, medium and low budget films.

* Healthy television satellite revenues on new deals during the period with MSM Satellite Singapore Private Limited for broadcast of films on Sony as well as with Viacom 18 Media Private Limited for broadcast of films on Colours. Strong catalogue revenues were also recurring in the period.

Financial Highlights:

CONSOLIDATED RESULTS FOR Q3 FY2014

* Total Income increased to Rs. 4,336.4 million by 17.2% (Rs. 3,701.3 million in Q3 FY2013)

* EBIT increased to Rs. 1,352.5 million by 50.5% (Rs. 898.6 million in Q3 FY2013)

* Profit after tax (after minority) increased to Rs. 919.9 million by 41.1% (Rs. 652.0 million in Q3 FY2013)

* Diluted EPS increased to Rs. 9.97 by 41.0% (Rs. 7.07 in Q3 FY2013)

CONSOLIDATED RESULTS FOR 9M FY2014

* Total Income marginally down to Rs. 8,293.3 million by 3.6% (Rs. 8,604.2 million in 9M FY2013)

* EBIT increased to Rs. 2,316.9 million by 25.6% (Rs. 1,844.7 million in 9M FY2013)

* Profit after tax (after minority) increased to Rs. 1,583.0 million by 29.0% (Rs. 1,227.1 million in 9M FY2013)

* Diluted EPS increased to Rs. 17.16 by 28.9% (Rs. 13.31 in 9M FY2013)

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Eros Internationals parent company is listed on the New York Stock Exchange (NYSE) and it has raised USD 55 million by offering 5 million shares at USD 11, becoming the first Indian media company to do an IPO on the NYSE.