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Tag: Eros International

  • Q3-2015: Eros International q-o-q PAT, revenues more than double

    Q3-2015: Eros International q-o-q PAT, revenues more than double

    BENGALURU: The Sunil  Lulla led Indian motion picture production and distribution company Eros International Media Limited (Eros) reported more than double (up 2.18 times) PAT at Rs 109.34 crore (22.3 per cent of net Total Income from Operations or TIO or revenue) versus the Rs 50.14 crore (20.9 per cent of TIO) in Q2-2015 and 18.9 per cent more than the Rs 91.99 crore (21.3 per cent of TIO) in Q3-2014. In 9M-2015, PAT grew 23.4 per cent to Rs 195.32 crore (20.1 per cent of TIO) from Rs 158.30 crore (19.3 per cent of TIO) in 9M-2014.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    The company has also reported more than double q-o-q TIO (up 2.05 times) in Q3-2015 at Rs 490.73 crore as compared to the Rs 239.90 crore in the preceding quarter and 13.4 per cent more than the Rs 43.268 crore in Q3-2014. Revenue (TIO) for 9M-2015 grew by 18.5 per cent to Rs 972.12 crore from Rs 820.05 crore in 9M-2014.

     

    Eros released 42 films – 28 Hindi and 14 Tamil/Telugu regional films in 9M-2015 as compared to the 41 films (15 Hindi, 25 Tamil/Telugu and one other regional language film) in 9M-2014. Eros says that five of the films were high budget, seven were medium budget and 30 were low budget films in 9M-2015 as against two high budget, 18 medium budget and 21 low budget films in the corresponding nine month period of the last financial year.

     

    The company informs that of the 12 films released in Q3-2015, three films were high budget while nine were medium and low budget films versus the two high budget films and 13 medium and low budget films in the corresponding year ago quarter.

     

    Let us look at the other numbers reported by Eros for Q3-2015 and 9M-2015

     

    Eros Total Expenditure (TE) in Q3-2015 at Rs 354.34 crore (70.4 per cent of TIO) was also more than double (up 2.05 times) the Rs 168.19 crore (70.1 per cent of TIO) in the immediate trailing quarter and 15.7 per cent more than the Rs 298.40 crore (69 per cent of TIO) in Q3-2014. TE in 9M-2015 at Rs 696.77 crore (71.7 per cent of TIO) was 16.6 per cent more than the Rs 597/64 crore (72.9 per cent of TIO) in 9M-2014.

     

    The company’s finance cost in Q3-2015 at Rs 9.74 crore (two per cent of TIO) was 10.8 per cent lower than the Q2-2015 finance cost of Rs 10.92 crore (4.6 per cent of TIO) but was 31.8 per cent more than Rs 7.39 crore (1.7 per cent of TIO) in Q3-2014. For 9M-2015, finance cost at Rs 30.03 crore (3.1 per cent of TIO) was 65 per cent more than the Rs 18.20 crore (2.2 per cent of TIO) in 9M-2014.

     

    Eros managing director Sunil Lulla said, “We are pleased to report robust results, which reflect the success of our strategy to invest in high quality film content and monetize it across existing and emerging revenue streams. In line with our core de-risking approach, we also registered strong pre-sales from our high profile Hindi and Tamil films such as Lingaa, Action Jackson and Kaththi. Our content pipeline has seen some impressive signings and we are excited to announce our entry into the Malayalam market enhancing our regional breadth.”

     

    “ErosNow, our online service showcasing movies, music, music videos and television shows, is developing as a robust offering that carries tremendous potential. Along with improving internet connectivity and forecast of smartphones user base in India expanding to over 650 million (65 crore) in the next four years, we expect the demand for on-the-go entertainment to grow exponentially. We strongly believe ErosNow is well positioned to capitalize on the growing online consumption opportunity in India,” added Lulla.

  • Eros International inks deal with Thirrupathi Brothers

    Eros International inks deal with Thirrupathi Brothers

    MUMBAI: Eros International Media has joined hands with N Lingusamy’s Thirrupathi Brothers Media. As part of the tie-up, Eros will release two of the most anticipated films in Tamil cinema with Telugu dub namely Kamal Haasan’s Uttama Villain and Shiva Karthikeyan’s Rajini Murugan.

     

    Uttama Villain, the first of the two films under this deal, also starring Anushka Shetty is a comedy written by Haasan and directed by Ramesh Aravind. The trailer of the film released on Pongal 2015 and the release is slated for 2 April.

     

    Rajini Murugan, is also a comedy, starring Sivakarthikeyan and directed by Ponram, whose last venture with the actor was the hit film Varuthapadatha Valibar Sangam.

     

    Eros International Media managing director Sunil Lulla said, “We are delighted to partner with ace director N. Lingusamy’s Thirrupathi Brothers on these exciting films with the legendary Kamal Haasan and upcoming talent like Sivakarthikeyan. The films will be high on the entertainment quotient and promise to connect with fans and audiences.”

     

    Thirrupathi Brothers Film Media managing director Lingusamy added, “We are extremely proud to associate with Eros, the most powerful and successful name in contemporary Indian cinema to co-produce our prestigious Uttama Villain starring Kamal Hassan and Rajini Murugan starring the emerging popular hero of Tamil Cinema Sivakarthikeyan only to mark the beginning of a long and successful journey with Eros.”

  • Rentrak partners with Eros International for box office reporting

    Rentrak partners with Eros International for box office reporting

    MUMBAI: Rentrak, a company that measures movies and TV everywhere, has announced its partnership with Eros International. As part of the deal, the company will collect box office information of Eros’ films across India. The first Eros film Rentrak will collect data on is ‘Tevar’, which released on 9 January.
                                                  
    “We are thrilled to work with Eros as we continue to grow our International coverage, which now includes the operation and collection of theatre-level attendance and box office information from 36 countries. The inclusion of Eros to our service is a powerful addition to our clients in India,” said Rentrak’s worldwide movie measurement business president Ron Giambra.  “Rentrak is thrilled to continue help India make its film production more transparent with our global box office reporting capabilities,” he added.

    Eros International CEO Jyoti Deshpande said, “We are delighted to partner with Rentrak for box office measurement in India. I believe this tie up will help accelerate positive change and herald a new era of transparency in the Indian movie industry.”
     
    Rentrak’s Box Office Essentials and International Box Office Essentials are the movie industry’s source for comprehensive global box office intelligence and are used as the currency by every studio in the United States as well as distribution entities around the world. Boasting a global footprint of the worldwide movie market, Rentrak is able to provide its clients with real-time box office intelligence, through one unique system, which allows users to view real-time online reports from anywhere around the world.
     
    In recent times, Eros has also entered into Indian regional cinema with a strong line up of Bollywood, Tamil, Telugu and Malayalam releases this year. Eros is also one of the biggest international distributors for Bollywood movies with penetration in over 50 countries.
     
    India with 3.5 billion admissions per annum is already the largest consumer of movies in the world. As studies suggest, with seamless digitisation in the movies business, proliferation of multiplexes across the length and breadth of the country, Indian movies increasingly capturing the imagination of world markets, the Indian movie industry is set to make giant strides in terms of box office revenues and compete with the fastest growing markets in the world in near future.
     
    The Eros-Rentrak tie-up assumes greater significance in this transformative phase and will provide a positive thrust towards making the rapidly growing, vastly potent yet complex Indian movie industry, transparent.  

    The latest offering from Eros – Tevar stars Arjun Kapoor and Sonakshi Sinha in the lead. Eros’ upcoming films include Shamitabh, a film by R. Balki and starring India’s biggest super star Amitabh Bachchan.

     

  • Eros International acquires international rights of Excel’s upcoming movies

    Eros International acquires international rights of Excel’s upcoming movies

    MUMBAI: Eros International Media (Eros International), one of the leading global film company in the Indian film entertainment industry has acquired the international rights of Excel Entertainment’s eagerly awaited films – Zoya Akhtar’s Dil Dhadakne Do and film critic turned director Karan Anshuman’s Bangistan.

     

    Dil Dhadakne Do, in Zoya’s trademark style boasts of an ensemble cast including Anil Kapoor, Ranveer Singh, Farhan Akhtar, Priyanka Chopra, Anushka Sharma and Shefali Shah. Shot mostly in foreign locales on a cruise ship, the film is a drama centered around a dysfunctional Punjabi family.

     

    Anshuman’s Bangistan, a hilarious parody stars Riteish Deshmukh and Pulkit Samrat as two rival, blundering terrorists with Jacqueline Fernandez making a special appearance.

     

    Eros International CEO Jyoti Deshpande stated: “After a successful association for Zindagi Na Milegi Dobara, we are happy to once again partner with Excel who are known to make films that entertain as well as consistently offer a fresh take on cinema. Dil Dhadakne Do and Bangistan are looking extremely promising and we are looking forward to showcase these films internationally through our digital and distribution network.”

     

    Excel Entertainment producer Ritesh Sidhwani added: “We are happy to collaborate with Eros for these two exciting projects and present them on a worldwide platform through their outstanding distribution network.”

     

    Eros will release Bangistan on 17 April 2015 and Dil Dhadakne Do on 5 June 2015 in the international markets.

  • Eros International appoints Dinesh Modi as India CFO

    Eros International appoints Dinesh Modi as India CFO

    MUMBAI: Eros International Media’s group chief financial officer (CFO) Kamal Kumar Jain has quit the company. An announcement to the Bombay Stock Exchange states that Dinesh Modi has been appointed as the new group CFO for India.

     

    Modi has had an experience of over 15 years in finance while Jain had been associated with Eros since 2010. “Kamal was a valuable member of our team and we wish him all the best for his future,” states the BSE statement adding that he will be moving on to pursue his other interests.

     

    Kamal has 17 years of experience and has worked with DNA, Percept Group and Ciba Specialty. Modi was senior VP- finance and operations at Prana Studios and has also worked with companies such as WNS, BearingPoint, MC Dean and Gujarat Guardian.

  • Eros International reports 40 per cent PAT q-o-q growth in Q2-2015

    Eros International reports 40 per cent PAT q-o-q growth in Q2-2015

    BENGALURU: The Sunil Lulla led Indian motion picture production and distribution company Eros International Media Limited (Eros) reported 39.9 per cent growth in PAT at Rs 50.14 crore (20.9 per cent of net Total Income from Operations or TIO) in Q2-2015 from the Rs 35.84 crore (14.8 per cent of TIO) in Q1-2015 and 35.6 per cent growth from the Rs 36.97 crore (18.4 per cent of TIO) in the corresponding year ago quarter. In HY-2015, PAT grew 35.1 per cent to Rs 85.98 crore (17.9 per cent of TIO) from Rs 63.64 crore (16.4 per cent of TIO) in HY-2014.

     
    Note: 100,00,000 = 100 lakhs = 10 million = 1 crore
     
    The company reported almost flat q-o-q TIO (down by 0.7 per cent) in Q2-2015 at Rs 239.90 crore versus the Rs 241.49 crore in Q1-2015 and 19.3 per cent TIO growth from the Rs 201.05 crore in Q2-2014. Revenue (TIO) for HY-2015 grew by 24.3 per cent to Rs 481.39 crore from Rs 387.37 crore in HY-2014.
     
    Eros released 30 films -20 Hindi and 10 Tamil/Telugu regional films in HY-2015 as compared to the 26 films (11 Hindi, 14 Tamil/Telugu and 1 other language) in HY-2014. Eros says that 2 of the films were high budget and 28 were medium and low budget films.
     
     
    Let us look at the other numbers reported by Eros for Q2-2015 and HY-2015
     
    Eros Total Expenditure (TE) in Q2-2015 at Rs 168.19 crore (70.1 per cent of TIO) was 8.9 per cent lower than the Rs 184.68 crore (76.5 per cent of TIO) in Q1-2015 and 11.3 per cent more than the Rs 151.16 crore (75.2 per cent of TIO) in Q2-2014. TE in HY-2015 at Rs 352.87 crore (73.3 per cent of TIO) was 17.9 per cent more than the Rs 299.24 crore (77.2 per cent of TIO) in HY-2014.
     
    The company’s finance cost in Q2-2015 at Rs 10.92 crore (4.6 per cent of TIO) was 16.5 per cent more than the Rs 9.37 crore (3.9 per cent of TIO) in Q1-2015 and 76.1 per cent more than the Rs 6.2 crore (3.1 per cent of TIO) in Q2-2014. For HY-2015, finance cost at Rs 20.29 crore was almost double (up 1.88 times) the Rs 10.81 crore in HY-2014.
     
    Eros managing director Sunil Lulla said, “We reported healthy results in the first half driven by the performance of new releases in Hindi and regional languages and robust monetization of library films over existing and emerging distribution channels. We remained focused towards diversifying mix of movies with increasing emphasis on high profile regional language films with our tentpole Hindi language films.”
     
    “Our ErosNow initiative continued to gain momentum as we premiered a whole host of films on this online service. We will be launching a new mobile app for ErosNow by the end of this year and along with our recently announced Techzone acquisition, we are positive about increased uptake of this unique service in the near future,” added Lulla.

     

  • Eros International collaborates with Aanand L Rai on Tanu Weds Manu Returns.

    Eros International collaborates with Aanand L Rai on Tanu Weds Manu Returns.

    MUMBAI: After the stupendous success of Raanjhanaa ,starring Sonam Kapoor & Dhanush, that went on to enter the highly coveted 100 crore club, Eros International is now collaborating with director Aanand L Rai on Tanu Weds Manu Returns, the sequel of the blockbuster starring Kangana Ranaut and R.Madhavan.

     

    Kangana Ranaut who will soon reprise her role as Tanu in Aanand L Rai’s Tanu Weds Manu Returns has a pivotal role in the film, that of a Haryanvi athlete.

     

    Says director Aanand L Rai, “It is wonderful to be collaborating with Eros yet again on Tanu Weds Manu Returns .They have always ensured that no stone is left unturned to give a film everything it needs right from the time it goes on floors to the release.”.

     

    Says producer Krishika Lulla, “after the delightful  Raanjhanaa, we at Eros are happy to partner with director Aanand L Rai on yet another entertainer Tanu Weds Manu 2 .We are confident that the sequel will be just as memorable and entertaining”.

     

    Complex, funnier and more twisted, Aanand L Rai’s Tanu Weds Manu Returns starring Kangana Ranaut and R.Madhavan is scheduled to release next year.

  • Eros International partners with Home Cable Network for movies on broadband

    Eros International partners with Home Cable Network for movies on broadband

    MUMBAI: After announcing a partnership with India’s leading multi system operator (MSO) Hathway Cable & Datacom, Eros International has announced another deal with MSO Home Cable Network.

     

    The deal involves Home Cable and ErosNow, the online entertainment service of Eros International. The subscription-based broadband streaming service of the MSO will enable its subscribers to view content from the Eros library of films and music on multiple devices such as TVs, PCs, laptops, tablets and mobiles.

     

    ErosNow CEO Rishika Lulla said, “ErosNow is the only unique online streaming service in the world to offer both current and classic Bollywood blockbusters, music videos and popular television shows. We are pleased to be partnering with a leading player like Home Cable and make our extensive film content available to their vast subscriber base. With this pairing we continue to extend the reach of ErosNow as a leading digital entertainment brand.”

     

    The online platform currently offers thousands of new and catalogue movies from Eros as well as other Bollywood studios. This includes a large selection of premium TV content syndicated from TV studios as well as thousands of music videos and audio tracks.

     

    Home Cable has services in the Delhi-NCR region and delivers 50mbps broadband to its subscribers. The service will be offered at a monthly subscription price with a base price for unlimited viewing of movies.

     

    Prior to this, ErosNow teamed up with Hathway Broadband for making its content available to its customers on smart TVs, PCs, laptops, tablets and mobiles.

  • Eros International Q1 FY15 Net Profit Jumps 22.2 per cent to Rs 358 million

    Eros International Q1 FY15 Net Profit Jumps 22.2 per cent to Rs 358 million

    MUMBAI: Eros International Media Limited (Eros International), a leading global Company in the Indian film entertainment industry, today announced its consolidated financial results for the quarter ended June 30, 2014 (Q1 FY2015).

     

    Financial Highlights:

     

    CONSOLIDATED RESULTS FOR Q1 FY2015

     

    ·         Total Income increased by 26.0% to Rs. 2,446.1 million (Rs. 1,942.1 million in Q1 FY2014)

     

    ·         EBIT increased by 29.9% to Rs. 599.3 million (Rs. 461.3 million in Q1 FY2014)

     

    ·         Profit after tax (after minority) increased by 22.2% to Rs. 358.4 million (Rs. 293.4 million in Q1 FY2014)

     

    ·         Diluted EPS stood at Rs. 3.88 (Rs. 3.19 in Q1 FY2014)

     

    Executive Comment:

     

    Eros International Media MD Sunil Lulla said, “The fiscal year commenced on a positive note led by healthy performance of our film portfolio across revenue streams along with the ongoing monetization of library films. We continue to work towards expanding our film content through a diversified approach of acquiring a mix of high, medium and low budget movies across Hindi and other regional languages.

     

    We are focused on driving our new media content distribution strategy through ErosNow and took various strategic initiatives to further strengthen the platform. The acquisition of a controlling stake in Techzone, a leading mobile value added services provider, brings on board expertise in technology and solid distribution reach of mobile digital content. Our partnership with Hathway Cable to launch a subscription based movie streaming service will enable their broadband subscribers to watch our library films from the ErosNow platform.

     

    Given our well-defined business model, unique offerings and an extensive film library, we are best positioned to leverage existing and emerging opportunities in the Indian Media and Entertainment industry.” 

     

    Highlights: 

     

    ·         9 films released during Q1 FY2015: Including 5 Hindi and 4 Tamil films as compared to 12 films during Q1 FY 2014, which included 7 Hindi, 5 Tamil and other regional language films.

     

    o    Of the total movies released during the quarter, 1 movie was high budget & 8 were medium & low budget movies. 

     

    ·         Strong financial performance: Revenues during Q1 FY2015 were primarily driven through library film monetization across multiple platforms and the release of new movies in Hindi, Tamil and other regional languages.

     

    o    The Company is witnessing growth in new platforms for monetization of catalogue movies along with increasing demand on existing platforms.

     

    o    Kochadaiiyaan, a high profile movie starring Rajinikanth, also contributed positively to overall performance through various revenues streams. In-line with the Company’s de-risking strategy, the movie registered strong pre-sales from satellite rights in multiple languages, audio and music rights exploitation, brand tie ups and others. 

     

    ·         Acquisition of Techzone: Eros International acquired a controlling stake in Techzone, a leading mobile value added services provider.

     

    o    Techzone has executed an average of 25 million SMS, WAP or IVR transactions per month over the past three years across 12 major telecom operators in India and bills the customers directly through its billing platform.

     

    o    The acquisition is in sync with Eros International’s focus on building its new media content distribution strategy through ErosNow to participate in the massive opportunity which exists in India with 870 million mobile subscribers (including over 60 million internet enabled smart phones) as of year-end 2013. 

     

    ·         ErosNow’s partnership with Hathway Cable: ErosNow, the Company’s dedicated online entertainment platform offering full length movies and music videos, launched a movie streaming service ‘Broadband Movies’, in partnership with Hathway Cable, one of the leading cable television services provider in India.

     

    o    The streaming service will enable Hathway Broadband customers to watch high quality movies from the ErosNow platform on multiple devices like smart- TVs, PCs, laptops, tablets and mobiles.

     

    o    The subscription-based service will be available to Hathway Broadband customers across India. 

     

    ·         Eros Plc follow on equity offering:  Eros Plc successfully closed a follow- on equity offering on July 15, 2014.

     

    o   The Company has received US$ 90 million as net proceeds from this offering based on the offer price of US$ 14.50 per share. 

  • Eros international to raise over $96 million from sales on NYSE

    Eros international to raise over $96 million from sales on NYSE

    NEW DELHI: Eros International, arguably the largest overseas distributor of Indian films, will raise more than $96 million from the sale of shares on the New York Stock Exchange (NYSE).

     

    The company transferred its listing from London’s second tier Alternative Investment Market to the main board of the NYSE, recently, and the shares are a component of the Russell 3000 index.

     

    The share issue is characterised as a ‘follow-on equity offering,’ according to a report in ‘Variety’.

     

    The company, this week, announced that it would sell 6.675 million A ordinary shares, while existing shareholders would sell 325,000, for a minimum total of seven million shares. The company set the price at $14.5 per share earlier this week for a total offering of $101.5 million, and new capital for the company of $96.5.

     

    In the event that the issue is heavily subscribed, both Eros and the existing shareholders may sell a combined total of 1.05 million additional A ordinary shares.

     

    Shares fell from $14.9 to $14.12 on the pricing news on 10 July, the report said.