Highlights of Q2FY17 vs Q1FY17- Revenue growth of 19.1% at Rs. 4, 887 million
- Net Profit up 7% at Rs. 630 million
- EBIT margin increased 19.9 % from 19.7 %
- PAT margin at 12.9 % from 14.3%
Mumbai, November 10, 2016: Eros International Media Limited (Eros International), a leading global Company in the Indian film entertainment industry, today announced its consolidated financial results for the quarter and full year ended September 30, 2016.
The revenue for Q2FY17 was recorded at Rs. 4,887 million as against Rs. 4,104 million in Q1FY17; up 19.1%. Net Profit for Q2FY17 stands at Rs. 630 million compared to Rs. 589 million in Q1FY17; up 7%.
Operational Highlights:
Strong operational performance
- Theatrical revenues during the quarter were driven by worldwide releases such as Dishoom, Janatha Garage, Baar Baar Dekho, Happy Bhaag Jayegi, Banjo amongst other releases
o The Company released a total of 17 films during the quarter (20 films in Q2 FY 2016)
- Company recognized satellite sales of Dishoom, Housefull 3 and Sardaar Gabbar Singh (Hindi) during Q2 FY17 amongst others along with robust catalogue sales
Diversified revenue mix
o Theatrical Revenues contributed – 35.8%, Overseas Revenues – 39.1% and Television & Others – 25.1% as a percentage of Total Income
o Under the revised Relationship Agreement, Overseas revenues now realize 48% of the production costs of the films w.e.f. 1st April, 2016
Eros India commences Digital Production for ErosNow
- ErosNow’s landmark initiative 'Salute Siachen‘ celebrates 35 years of the first journey made to Siachen by the Indian Army in 1981 – to be released soon on ErosNow
- Famous personalities such as Arjun Rampal, Arunoday Singh, Rudra Pratap Singh, Yuvraj Walmiki, Rannvijay Singh along with others are a part of the select squad to salute the courage of India’s soldiers manning the posts in extreme adverse conditions
Commenting on the performance of Q2 FY2017, Mr. Sunil Lulla, Executive Vice Chairman & MD of Eros International Media Ltd. said,
“This quarter marks robust revenues from the Eros catalogue, which is our premium asset, and reflects our investments in the film business over the years. Over the past many years, Eros has successfully developed an effective de-risking strategy, which includes building solid pre-sales, green lighting films at suitable budgets and monetizing them across various revenue streams. This strategy has not only helped in protecting our films from an unpredictable demand environment, but has also safeguarded the company’s investments, thereby ensuring steady cash flows and revenue visibility. We had over 110% of costs covered through pre-sales across revenue streams like theatrical, satellite and overseas during the H1 FY 2017.
Looking forward, we have a host of highly-anticipated releases such as Rock On 2, Chaar Sahibzaade 2, Saat Kadam, Kahani 2 (overseas), Ticket to Bollywood amongst others. Overall, we believe that the multiple growth initiatives undertaken by us over the last few quarters will enable us to deliver sustainable performance in the coming years.”
Major Upcoming Releases
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Film Name
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Language
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Star Cast/(Director/Producer)
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Tentative Release
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Rock On 2
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Hindi
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Farhan Akhtar, Arjun Rampal / (Excel / Shujaat Saudagar)
|
Q3 FY17
|
|
Chaar Sahibzaade 2
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Punjabi
|
3D Animation / (Harry Baweja)
|
Q3 FY17
|
|
Kahani 2
|
Hindi
|
Vidya Balan, Arjun Rampal (Sujoy Ghosh)
|
Q3 FY17
|
|
Amar Prem
|
Bengali
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Rudra, Shivangi / (Haranath Chakraborty)
|
Q3 FY17
|
|
Double Faluda
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Bengali
|
Feluda, Topse / (Sandip Ray)
|
Q3 FY17
|
|
Ticket to Bollywood
|
Hindi
|
Amyra Dastoor, Diganth Manchale / (Eros)
|
Q4 FY17
|
|
Saarkar Raj 3
|
Hindi
|
Amitabh Bachchan, Ronit Roy & Others / (Ram Gopal Verma
|
Q4 FY17
|
|
7 Kadam
|
Hindi
|
Amit Saadh, Diksha Seth, Ronit Roy & Others / (Mohit Kumar Jha)
|
Q4 FY17
|
About Eros International
Eros International Media Ltd. (BSE Script Code: 533261; NSE Script Code: EROSMEDIA) is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International is part of Eros International Plc, which became the first Indian media Company to raise capital and be listed on the New York Stock Exchange. Eros International has experience of over three decades in establishing a global platform for Indian cinema. The Company has a competitive advantage through its extensive and growing movie library comprising of over 1,200 films, which include Hindi, Tamil, and other regional language films for home entertainment distribution. Eros International has built a dynamic business model by combining the release of new films every year with the exploitation of its film library. For further information please visit:www.erosintl.com