Haier

Eros International 2QFY19: PAT up by 39.5 percent and income by 17.1 percent

Eros International Media Ltd., has reported unaudited financial results for the quarter ended September 30, 2018. The total Income stood at Rs 320.6 crore, increased by 17.1 percent from the corresponding quarter which was at Rs 273.9 crore. PAT stood at Rs 77 crore up by 39.5 percent. PAT margin expanded to 24 percent in 2QFY19 from 20.2 percent in 2QFY18. EBIT stood at Rs 106.8 crore up by 23 percent from the corresponding quarter; EBIT margin expands to 33.3 percent in 2QFY19 from 31.7 percent in 2QFY18.

Revenue growth was driven by a stronger release slate. Eros released 17 films (four medium budget and 13 small budget) and one digital series in 2QFY19 as compared to seven films (two medium budget, five small budget) in 2QFY18. Margin expansion was driven by content-driven films, strong pre-sales strategy, and catalog monetization. Capital structure and coverage ratios improve further and are well within the prescribed norms. Contribution from the television and others segment stood healthy at 48.2 percent.

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