BENGALURU: Last year (FY-2013), the company entered the Rs 1000 crore club with revenue of Rs 1067.75 crore. In Q1-2014, three movies - Raanjhaana, Go Goa Gone (GGG) and Yeh Jawani Hai Diwani (YJHD) raked in the moolah at the box office for Eros International Media Limited (Eros).
The company says that theatrical revenues during Q1-2014 have showcased the success of global releases of Raanjhaana, GGG and YJHD (Overseas). Raanjhaana achieved an impressive box office collection of Rs 100 crore worldwide; YJHD had an overseas collection of more than Rs 60 crore, while GGG had a worldwide collection of Rs 43 crore.
Eros announced consolidated income for Q1-2014 at Rs 194.2 crore, 25.1 per cent lower than the Rs 259.3 crore during the corresponding period in 2013 (Q1-2013) and 9.2 per cent lower than the Rs 213.9 crore for Q4-2013 (q-o-q).
During Q1-2014, Eros released 12 films - (seven Hindi and five Tamil and other regional languages), almost half of the 23 films - (five Hindi and 18 Tamil and other regional films) in Q1-2013 and almost a third less than the 17 films - (four Hindi and 13 Tamil and other regional films) in Q4-2013.
Eros managing director Sunil Lulla said, “Eros has delivered an encouraging Q1-2014 result in context of the film mix that it released in the Q1-2013. Raanjhaana, YJHD and GGG all delivered at the box office and were subsequently monetised through other revenue streams as well. Relative to their budget, the mix of films performed extremely well and demonstrates our ability to scale and change our mix to take advantage of market trends.
Let us look at some of Eros’ other figures for Q1-2014
Expense for Q1-2014 at Rs 148.03 crore was 28.5 per cent lower than the Rs 207 crore for Q1-2013 and 14 per cent lower than the Rs 172.21 crore for Q4-2013.
Earnings before interest and tax (EBIT) for Q1-2014 at Rs 46.1 crore was 11.9 per cent lower than the Rs 52.3 crore for Q1-2013 and 10.4 per cent more than the Rs 41.75 crore for Q4-2013.
PAT (after minority) for Q4-2014 at Rs 29.3 crore was 6.7 per cent lower than the Rs 31.4 crore in Q1-2013 and 7.9 per cent lower than the Rs 31.8 crore for Q4-2013.
Lulla said, “We are really excited about our collaboration with HBO and believe that the two premium channels will gain momentum with subscribers as we launch on further DTH and digital cable platform. The industry trends are testimony that premium content will be an important factor to drive demand and we are proud to be forerunners in that space.”
“We continue to expand our film content through our diversified approach of acquiring a healthy mix of movies. Our current future slate remains well-funded and we have several high profile movies lined up like Kochadiyan, Ram Leela, Rambo Rajkumar, Happy Ending and a number of high concept movies that are slated to be released in FY-2014. Our business has a natural Q3 skew due to film releases around the festival season and this year is no different and we remain positive on the outlook for FY-2014,” added Lulla.
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