Entertainment firm Eros International Media Ltd today reported 36.76 per cent decline in its consolidated net profit to Rs 32.72 crore for the fourth quarter ended March 31, 2016.
The company had reported a net profit of Rs 51.74 crore in the January-March quarter a year ago.
Its consolidated net sales during the quarter fell 39.89 per cent to Rs 269.91 crore as against Rs 449.05 crore in the same period last fiscal, Eros International said in a BSE filing.
“During the quarter, 12 films were released consisting of 3 Hindi and 5 Tamil/Telugu films and 4 Regional film as compared to 22 films during Q4 FY 2015, which included 17 Hindi and 5 Tamil/Telugu films,” the company said in a presentation.
For the full 2015-16 fiscal, Eros International net profit on consolidated basis was down 13.32 per cent to Rs 214.15 crore as against a net profit of Rs 247.06 crore in the previous fiscal.
However, its net sales were up 11.36 per cent to Rs 1,582.68 crore in 2015-16 as against Rs 1,421.17 crore in 2014-15.
“Profitability was marginally impacted by holding back of high-margin catalogue revenues in the second half of the year to focus on working capital efficiencies and due to the postponement of some Q4 releases to FY 2017,” the company said.
It had released total 63 films in FY2016 as against 64 films in FY2015.
Shares of Eros International Media today settled at Rs 181.90 on BSE, up 2.36 per cent from previous close.