Eros International Media Ltd, a leading global company in the Indian film entertainment industry, posted 5% decline in its consolidated net profit at Rs 26.08 crore for the second quarter ended September 30, 2012 compared to Rs 27.35 crore in the corresponding quarter of the previous year.
The company’s consolidated net income jumped by 23% to Rs 231.05 crore in the second quarter of the current financial year as against Rs 175.53 crore in the same quarter last year.
During the first half of the current financial year (2012-13), however, the company’s net profit jumped by 17% to Rs 57.49 crore from Rs 49.03 crore in the same period last year on a total income of Rs 490.30 crore versus 237.77 crore.
Eros International released 42 films during H1 FY2013 in different languages which included 8 Hindi, 34 Tamil and other regional languages (42 films in H1 FY2012). In Q2FY2013, Eros released 19 films. 3 Hindi, 16 Tamil and other regional language films (23 films in Q2FY2012)
“The first half of the fiscal has been encouraging and although Q2 did not have any major releases, we are pleased to have delivered strong results. We are delighted with the performance of not only the high profile films such as 'Housefull 2’ and ‘Cocktail', but also small budget films such as 'Vicky Donor'. It is encouraging to see the audience response to high quality content whether it is an established stat cast or new talent. Combining high concept content with strong marketing and a well-devised distribution plan is a key strategy for us,” Sunil Lulla, Managing Director, Eros International Media Ltd.
H2 FY2013 has begun on a very exciting note with overwhelming success of the highly rated wholesome family entertainer 'English Vinglish' and ‘Maatran’ (Tamil). The line-up for the rest of the fiscal 2013 is also very promising with high profile films such as ‘Son of Sardar’, ‘Khiladi 786’ and ‘Kochadaiyaan’.
The company continues to monetize its new and existing content over a host of platforms and constantly focus at leveraging new and emerging opportunities. Its robust business model combined with a de-risking strategy and large catalogue facilitates consistent growth and enables it to maintain our leadership position in the sector.
The company’s share gained 0.34% to trade at Rs 163.05 at 1.40 PM on Thursday.
