Eros International Announces Indian Subsidiary Results
May 23 2018 - 12:07PM
Business Wire
Eros International PLC (NYSE:EROS) (“Eros”), a leading global
company in the Indian film entertainment industry, announced today
that it has released unaudited financial results of its
majority-owned subsidiary, Eros International Media Limited (EIML),
for the fiscal fourth quarter and full year 2018. Please refer to
the Bombay Stock Exchange website – www.bseindia.com – or the
National Stock Exchange of India Limited website –
www.nse-india.com – to view the results.
Key financial highlights of Eros International Media Limited’s
Fourth quarter and Full Year 2018 results include:
- Q4 Revenue increase of 22.5%
year-on-year
- Q4 Profit After Tax (PAT) margin
increased to 23.6% (vs 16% in Q4 FY17)
- Q4 Adjusted EBITDA margin of 57.6% (vs
39.9% in Q4 FY17)
- Annual EBIT margin expanded from 26.1%
in FY17 to 36.4% in FY18
Speaking on the results, Prem Parameswaran, Chief
Financial Officer and President of North America for Eros
International PLC, commented:
“Our Indian subsidiary, Eros International Media Limited, today
announced a strong set of quarterly and annual results for the
fourth quarter and Fiscal Year 2018.
We remain very focused on our content slate, with 40-50 films
across all languages scheduled for release during this financial
year. We announced a robust slate of new theatrical releases
including, ‘Bhavesh Joshi’; Colour Yellow Production’s
‘Manmarziyan’ and ‘Happy Phir Bhaag Jayegi’ starring Sonakshi
Sinha; the tri-lingual animal film directed by Prabhu Salomon,
‘Haathi Mere Saathi’; and the India-China co-production, ‘Panda’ by
Kabir Khan. The company’s $150 million joint venture with Reliance
adds significant scale to Eros’ pre-existing slate while mitigating
investment risks through leveraging our robust distribution
network.
Eros Now recently launched its first worldwide direct-to-digital
original film, Meri Nimmo, in association with acclaimed director
Aanand L Rai, to positive critical reception. In addition, over the
next year ErosNow is planning to launch a stable of feature films,
made-for-digital originals films and over 20 original episodic
programs, all of which will be available exclusively on ErosNow to
paying subscribers. ErosNow also announced a multi-year marketing
sponsorship association with the Royal Challengers Bangalore (RCB),
a leading cricket team in the Indian Premier League led by Indian
cricket team captain Virat Kohli, and has produced some exciting
exclusive digital content with RCB available on ErosNow.
As previously announced, Eros Now has reached over 100 million
registered users and 7.9 million paying subscribers worldwide as of
March 31, 2018. Eros Now has over 10,000 digital titles in its
library and has one of the largest and deepest Indian content
offerings in the world.”
About Eros International Plc
Eros International Plc (NYSE:EROS) is a leading global company
in the Indian film entertainment industry that acquires,
co-produces and distributes Indian films across all available
formats such as cinema, television and digital new media. Eros
International Plc became the first Indian media company to list on
the New York Stock Exchange. Eros International has experience of
over three decades in establishing a global platform for Indian
cinema. The Company has an extensive and growing movie library
comprising of over 3,000 films, which include Hindi, Tamil, and
other regional language films for home entertainment distribution.
The Company also owns the rapidly growing OTT platform ErosNow. For
further information, please visit: www.erosplc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180523006076/en/
Eros International PlcMark Carbeck, +44-207-258-9909Chief
Corporate and Strategy Officermark.carbeck@erosintl.comorSloane
& CompanyErica Bartsch, 212-446-1875ebartsch@sloanepr.com
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