Eros net profit dips 6 pc at Rs 65 crore

Feb 13 2013, 07:42 IST
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SummaryTop movie and entertainment firm Eros International Media today reported 6 per cent fall in net profit at Rs 65.2 crore for the quarter ended December 31.

Top movie and entertainment firm Eros International Media today reported 6 per cent fall in net profit at Rs 65.2 crore for the quarter ended December 31.

The company had clocked a net profit of Rs 69.09 crore during the same period of previous fiscal. Revenues for the quarter under review declined 10 per cent to Rs 370.13 crore from Rs 411.59 crore in the same period a year-ago, Eros said in a statement here.

"Our slate was a well architected combination of modest budget high concept films as well as high profile big star cast films in Hindi and Tamil, which performed very well at the box office, resulting in corresponding strong revenues through other channels of distribution like television and digital," the company's Managing Director, Sunil Lulla, said.

During the October-December period, the company released 21 films, of which 18 were in Hindi.

"The nine months to December have been extremely fruitful for the company with the success of 'Vicky Donor', 'Housefull 2' and 'Cocktail' in the first half complemented by the success of 'English Vinglish', 'Son of Sardaar', 'Khiladi 786', 'Maatraan' and 'Thuppaki' as well as 'Dabaangg 2' for which the company monetised international rights," he said.

During the quarter, Eros collaborated with HBO to launch two premium television channels to monetise the opportunities unfolding as a result of digitisation.

"The collaboration will allow us to unlock the value of our library and new film slate even more and foray into the growing premium television market in India where television viewers will be offered advertising free compelling Bollywood and Hollywood content," Lulla said.

In December, Eros diluted 2.8 per cent of promoter holding through the 'offer for sale' route to meet the minimum public shareholding requirement of 25 per cent.

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