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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’, ‘R…Rajkumar’, ‘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.
CONSOLIDATED RESULTS FOR Q3 FY2014
* Total Income increased to Rs. 4,336.4 million by 17.2% (Rs.