Eros Internationals Blockbuster performance in Q1FY16

Eros International Media (EIML) a leading global company in the Indian film entertainment industry, recently announced its consolidated June quarter results. The company reported a strong 95.65 per cent year on year growth in revenue, which stand at Rs 472.48 crore in Q1FY16 compared to Rs 241.49 crore in Q1FY15. As a result its PAT is jumped by 48.86 per cent to Rs 53.35 crore in Q1FY16 against Rs 35.84 crore in Q1FY15.

EIML's healthy revenue growth led by new release revenues across theatrical, oversees, TV and others supported by healthy library monetization. Theatrical revenues during the quarter were driven by worldwide releases such as 'Tanu Weds Manu Returns', 'Uttama Villain' (Tamil), 'Masss' (Tamil), 'Aga Bai Arechaa 2' (Marathi), and overseas releases such as 'Gabbar' and 'Dil Dhadkne Do.' Segment wise theatrical revenues contributed 51.5 per cent, overseas revenues 27 per cent and television & others 21.5 per cent of the total income.

The Company's total operating expenditure also increased by 109.16 per cent to Rs 383.03 crore in Q1FY16 as against Rs 183.13 crore in Q1FY15. EIML's operating expenses was up by 35 per cent on an annual basis to Rs 230.19 crore and it includes all the cost such as film rights related costs, printing & publicity costs as well as marketing and other related costs. Its employee cost is also incremented by 38.22 per cent amounting Rs 10.85 crore as compared to corresponding quarter of last year.

The EBITDA boosted by 53.27 per cent on an annual basis to Rs 89.45 crore in Q1FY16, while its EBITDA margin contracted by 524 basis points to 18.93 per cent as compared to the same period of last year. Its PBT surged by 73.67 per cent to Rs 87.81 crore in Q1FY16 as against Rs 50.56 crore in Q1FY15. Mainly due to reduction of depreciation and interest cost also its other income increased by 159.94 per cent to Rs 8.11 crore compared to the same period of last financial year. EIML's PAT margin after minority interest contracted by 355 basis points to reach 11.29 per cent during Q1FY16 compared to Q1FY15.

EIML's shareholding pattern indicates that FII holdings expanded by 211 basis points to 18.26 per cent and DII holdings also expanded by 115 basis points to 2.39 per cent during Q1FY16 as compared to the same period of last year.

EIML's start to the second quarter has been exceptional with multiple-record breaker ‘Bajrangi Bhaijaan.' Last week’s Telugu release, Mahesh Babu starrer ‘Srimanthudu’ has opened to record breaking box office numbers. Its compelling lineup for the year includes high-profile and promising movies such as ‘Bajirao Mastani’, Welcome Back,' ‘Hero,'‘Gabbar Singh 2,'’24,' amongst a host of other Hindi and regional movies.

The company also signed landmark deals with three major Chinese state owned film and entertainment companies to promote, co-produce, distribute and unlock value in respective intellectual properties for Sino-Indian films.