- Q4 – Revenue up by 22.5%; PAT Up by 80.4%; EBITDA Up by 61.5%
- FY 18 – Strong EBIT Margin Expansion of 10.3%; PAT Margin Up by 4.9%
New Delhi: Eros International Media Ltd., global Indian Film and Digital Studio announced unaudited financial results for the quarter ended March 31, 2018.
The company reported robust quarterly income up by 22.5% at Rs 2578 million and EBIT Margin at 41.3% at Rs 1066 million thus illustrating momentum for the company ahead as Profits after Tax has grown 80.4% to 608 million and the EBIT margins have expanded from 26.1% in FY2017 to 36.4% in FY2018 and PAT margin has expanded from 17.8% in FY2017 to 22.7% in FY2018.
Commenting on the performance of Q4 & FY2018, Sunil Lulla, Executive Vice Chairman & MD of Eros International Media Ltd. said, “The pioneering spirit is prevalent in our leadership DNA as we further consolidate a fragmented market place as well as making Indian filmed entertainment truly global. As the dynamics of the country change with connectivity at the core of distribution we are uniquely positioned to leverage these trends with content being the key driving force. Our strategy of a content driven approach reflected in a robust green lighting process enables us to de-risk our model.”
In the same breath, he shared his thoughts on the future, “We look forward to fiscal FY19 by further proving our strategies and paving the road ahead for a truly global Indian entertainment experience. With content slate and scale being a key driver, we make strides foraying into original content, we are confident our film and originals slate will contribute further to accelerating Eros Now’s growth which this year itself is over 270%.”
Eros International sharpened its focus on profitability by investing in content-driven films with high ROI potential and low risk profile, which helped build increasingly successful slate with ‘Newton” India’s entry to the Oscars, hit comedy Shubh Mangal Savdhan and sports based drama “Mukkabaaz’.
The democratization of theatrical consumption of content has skewed the strategy to be increasingly focused on catering to the regional demographic which is reflected in the current slate mix “Aamhi Doghi” (Marathi), “Rong Beronger Kori” (Bengali), “Oru Kidayin Karunai Manu” (Tamil), “Aake” (Kannada), “Viswa Vikhyatharaya Payyanmar” (Malayalam) amongst others. The future slate also has a trilingual remake of the classic library film “Haathi mere saathi” and “Bhavesh Joshi” to name a few.
Eros Group is also leveraging its strong talent relationships built over the past 40 years which will be key to its growth trajectory like Colour Yellow Productions and Anand L Rai has enabled Eros not to only to have a strong theatrical release pipeline with “Manmarziyan” and sequel to blockbuster film “happy Bhag Jayegi”, “Phir Bhag Jayegi” starring Sonakshi Sinha, but also to break the norms across the entertainment ecosystem. It successfully premiered India’s first straight to digital film, Eros Now original, “Meri Nimmo” on the platform.
Additionally, the company’s 10 billion ($150 million) joint venture with Reliance adds significant scale to Eros’ pre-existing slate while mitigating investment risks as it will benefit by leveraging the robust distribution network. Eros will collaboratively grow this joint venture to strengthen the company fundamentals; content creation, distribution and a robust balance sheet allowing Eros to experience momentous improvements in the margins in future too.