Eros International Media Ltd. Reports Earnings for Q4 & FY23, Revenue Grows 62% YoY
Mumbai, 14 June 2023: Eros International Media Ltd. (BSE: 533261, NSE: EROSMEDIA) reported earnings for quarter and year ended 31 March 2023 in its board meeting held on May 29, 2023. For the financial year ended 31 March 2023 (Consolidated), the company saw a 62.44% grwoth in revenues YoY, which rose to Rs. 756.51 Cr (FY23). Profit Before Tax (PBT) was reported negative at Rs. 119.78 Cr (Loss YoY).
For the quarter ended 31 March 2023 (Consolidated), the company saw a 1108% jump in revenues QoQ, which rose from Rs. 33.46 Cr (Q3FY23) to Rs. 404.47 Cr (Q4FY23). The company reported a negative profit before tax (PBT) for Q4FY23 – losses narrowed QoQ, from a loss of Rs. 51.22 Cr (Q3FY23) to a loss of Rs. 6.35 Cr (Q4FY23). Net PAT came in negative (loss), stood at Rs. 13.20 Cr (Q4FY23), narrowing QoQ, from loss of Rs. 34.29 Cr (Q3FY23).
Earlier in March, the company intimated the exchanges that it executed a binding agreement for an itemized assets sale with regards to its music assets (including all rights, title and interests related thereto) to a third party.
Eros International Media Ltd. (BSE: 533261, NSE: EROSMEDIA) is a leading global entertainment company focused on the production, acquisition, and distribution of Indian films. Founded in Mumbai, Eros International has made a significant impact on the Indian film industry and gained international recognition. As a pioneer in the Indian film industry, Eros International has been instrumental in shaping the landscape of Indian cinema. The company has grown into a powerhouse, continuously pushing boundaries and setting new benchmarks.
Indian films produced and distributed by Eros International span a variety of languages and genres. The company has a vast library of content, including blockbusters, critically acclaimed films, and regional cinema. Eros International has collaborated with some of the finest talent in the industry, including acclaimed directors, actors, and production houses.
In addition to film production, Eros International has expanded its operations to encompass digital platforms and content distribution. The company has embraced technological advancements and leveraged digital platforms to reach a wider audience globally.
With a global presence, Eros International has successfully forged strategic partnerships and collaborations with international studios, distributors, and content platforms. This has enabled the company to widen its reach and explore new avenues for content distribution, strengthening its position as a leading player in the global entertainment industry. Eros International Media Ltd. continues to be a spearhead in the Indian entertainment industry, driven by its vision to entertain, engage, and inspire audiences globally.
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