MUMBAI, India--(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.
