MUMBAI: Loss to gloss? Eros Media scrapes into the black, thanks to a property sale. From a cinematic cliffhanger to a financial plot twist, Eros International Media has posted a modest standalone profit of Rs 13 lakh for the half year ended 30 September 2024 thanks almost entirely to a Rs 2,303 lakh gain from selling office premises. But behind the positive headline figure lies a tangled script of unpaid dues, regulatory heat, and an eroded net worth.
As per the company’s unaudited results approved on 31 July 2025, total income stood at Rs 5,390 lakh for the April–September period, of which only Rs 3,079 lakh came from actual operations. The remaining Rs 2,311 lakh largely stemmed from the one-time property deal, bumping up the bottom line just enough to dodge a red mark. For context, Eros had reported a loss of Rs 9,970 lakh in the same period last year and a full-year loss of Rs 47,973 lakh in FY24.
Despite this slim profit, Eros continues to operate under significant financial strain. Its net worth remains negative at Rs (48,572) lakh, and liabilities exceed assets. The company is staring at long-overdue receivables of Rs 14,893 lakh from Eros Worldwide FZE, its former parent, apart from another Rs 7,303 lakh from Eros UK and Rs 3,183 lakh from Eros USA. A provision of Rs 25,150 lakh has been made towards these in FY24.
Moreover, the company is entangled in a regulatory saga. The Securities and Exchange Board of India (SEBI) issued an ex-parte order in June 2023 and later a confirmatory order in October 2023, citing irregularities including suspect content advances. These advances Rs 5,253 lakh (net of impairment) out of a whopping Rs 1,07,201 lakh remain under SEBI scrutiny. The watchdog has since issued a show-cause notice, and the next Securities Appellate Tribunal (SAT) hearing is slated for 22 September 2025.
Adding to the drama, the Enforcement Directorate conducted a search at Eros’ Mumbai office earlier this year under the Foreign Exchange Management Act, with proceedings still pending.
Eros’ auditors, Haribhakti & Co LLP, have flagged a “material uncertainty” over its ability to continue as a going concern. While the company says it’s pursuing overdue collections, restructuring loans, and exploring long-term monetisation of its film and music library, the road ahead is anything but smooth.
Despite the small profit reprieve, this may not be the interval, let alone the climax. Eros still needs a major plot twist to turn the tide. For now, it’s banking more on nostalgia and asset sales than a strong box office-style comeback.
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