Eros International net profit down 7%

Total income down at Rs 194.2 cr

Eros International has net profit at Rs 29.3 crore, for the quarter ended June 2013, down almost 7% from Rs 31.4 crore in the corresponding quarter last year. 

 

Total Income was lower at Rs 194.2 crore (Rs 259.3 crore), while EBIT was lower at Rs 46.1 crore (Rs 52.3 crore), said a press issued by Eros International. The company released 12 films during the first quarter of the current financial year, which included seven Hindi, five Tamil and other regional languages. The company had released 23 films in the first quarter of last year. 

 

In the current year, theatrical revenues came from movies such as ‘Raanjhanaa’, ‘Go Goa Gone’, and ‘Yeh Jawaani Hai Deewani’ (Overseas). Of these Raanjhanaa's box office collections was more than Rs 100 crore worldwide. Yeh Jawaani Hai Deewani, that was distributed by the parent company, Eros Plc, had box office collection of more than Rs 60 crore, in the overseas market. While Go Goa Gone reported box office collection of Rs 42 crore worldwide. 

 

Performance was also driven by television licensing deals for the company's movie library and new releases during the quarter, the release. 

 

Eros International recently announced its collaboration with HBO Asia to launch two new premium advertising free television channels that will showcase content from Hollywood and Bollywood.

 

 The channels HBO Defined and HBO Hits went live on the DISH and AIRTEL DTH platforms in India and are expected to launch on other DTH and digital cable platforms later this year.