Eros International Media rose 7.38% to Rs 73.50 at 11:23 IST on BSE after consolidated net profit rose 14.72% to Rs 69.74 crore on 5.95% decrease in net sales to Rs 224.56 crore in Q4 March 2019 over Q4 March 2018.
The result was announced after market hours yesterday, 23 May 2019.Meanwhile, the S&P BSE Sensex was up 201.90 points, or 0.52% to 39,013.29.
On the BSE, 1.39 lakh shares were traded in the counter so far compared with average daily volumes of 82,000 shares in the past two weeks. The stock had hit a high of Rs 75.90 and a low of Rs 71.45 so far during the day. The stock hit a 52-week high of Rs 157.55 on 30 May 2018. The stock hit a 52-week low of Rs 56.95 on 3 May 2019.
Consolidated total income rose 2.11% to Rs 263.18 crore in Q4 March 2019 over Q4 March 2018.
Revenue growth was driven by a healthy mix of release slate: Eros released 72 films (7 medium budget, 65 small budget) & 11 Digital Series in FY2019 as compared to 24 films (1 high budget, 4 medium budget and 19 small budget films) as in FY2018.
As on 31 March 2019, the net debt of the company stood at Rs 438.40 crore as compared to Rs 555.70 crore as on 31 March 2018 and the net debt/equity ratio stood at 0.17 as compared to 0.25 as on 31 March 2018.
Eros' strategy of moving away from films that rely on box office performance and expand presence in digital content creation is getting recognized, the company said in a statement.
Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media and is also a leading producer of digital content for its parent company, Eros International Plc.
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