Eros International Q1 net up 49% at Rs 53 crore

Eros International Media today reported a 48.85 per cent increase in consolidated net profit at Rs 53.35 crore for the first quarter ended June 30, due to higher income.

The company had reported a net profit of Rs 35.84 crore during the corresponding quarter last year, Eros International Media said in a BSE filing.

Total income from operations rose to Rs 472.48 crore during the quarter under review, up 95.32 per cent as against Rs 241.9 crore during the same period of previous fiscal.

Eros International Media Ltd Executive Vice Chairman and Managing Director Sunil Lulla said: "We have had an excellent start to fiscal 2016... The portfolio performance reinforces our strategy of investing in content driven films, which are prudently budgeted and then extensively monetised across traditional and emerging platforms."

He further said: "As a strategy, we continue to diversify our presence across difference film genres, budgets and languages. Further, strong pre-sales for our films remains one of the cornerstones of our strategy.