Eros International has reported a net profit of Rs 51.7 crore growing 25% year-on-year for the quarter ended March 31. The company’s total revenues stood at Rs 465.6 crore which was up 50% year-on-year. The company in its release said that the revenues was split into three broad categories with theatrical releases accounting for 38% of the revenue mix, television and others accounting for 31.3% and overseas revenues accounted for 30.7% of the total revenues for FY15.
Note, it looks like that Eros International has changed its reporting format and has not disclosed revenues from its digital and ancillary segment. In the preceding quarter the segment earned $36.3 million revenues and accounted for 36.15% of the total revenues.
Eros Now app: Eros’ digital business includes its video-on-demand service called Eros Now and the company this quarter said that it has over 14 million users. It did not, however, disclose monthly active users and the revenues earned from the digital service.
It’s ancillary businesses include digital music revenues (from iTunes, Spotify, Napster, Rdio), and physical CD sales as well as rights to Radio & TV channels and royalties from public performances. They also include revenues from in-flight entertainment.
Theatrical revenues: Theatrical revenues stood at Rs 547.58 crore for FY15. However, note that these revenues are significantly dependent on number of film releases in a quarter, so it’s perhaps not right to do a quarter on quarter comparison for the company.
Television syndication and other revenues: The television syndication and other revenues were at Rs 451 crore for FY15.
– Net profit for the quarter stood at Rs 51.7 crore, up 24.9% from Rs 41.4 crore in the same quarter last year.
– Total income in the quarter was Rs 465.6 crore in the quarter, up 50% from Rs 310.3 crore in the same quarter last year.
– EBIT stood at Rs 82.9 crore up 21.9% from Rs 68 crore from the same period last year.
– ErosNow tied-up with RailTel Corporation of India to offer passengers at railway stations across India access to its entertainment content on their mobile devices.
– Eros also inked a deal with Asianet Broadband to launch of a broadband movie streaming service partnership, “Broadband Movies”. It also signed a similar deal with broadband provider Hathway and the subscription-based service will be available to Hathway customers across Gujarat for their 100,000 broadband subscribers.
– The company appointed Prem Parameswaran Group Chief Financial Officer of Eros International, Plc and President – North America.
– The company signed three deals with Chinese state owned film and entertainment companies to promote, co-produce and distribute Sino-Indian films across all platforms in both the countries. The Memorandums of Understanding (MoUs) signed amongst the parties outline the prospective coproduction and distribution of Sino-Indian films with Chinese government owned film production houses, including Chinese Film Corp (CFC) and Shanghai Film Group Corporation (SFG), as well as with Fudan University in Shanghai.