Eros International Posts 22 Per Cent Increase in Q1 Profit
Mumbai: Eros International Media on Thursday reported a 22.2 per cent rise in consolidated net profit at Rs 35.84 crore for the first quarter that ended on June 30, 2014.
The company had registered a net profit of Rs 29.34 crore for the corresponding quarter a year ago, it said in a statement.
Total income of the company rose to Rs 244.61 crore during the quarter under review as against Rs 194.21 crore in the year-ago period.
"The fiscal year commenced on a positive note, led by healthy performance of our film portfolio across revenuestreams along with the ongoing monetization of library films."
"We continue to work towards expanding our film content through a diversified approach of acquiring a mix of high, medium and low budget movies across Hindi and other regional languages," Eros International Media managing director Sunil Lulla said.
"We are focused on driving our new media content distribution strategy through ErosNow and took various strategic initiatives to further strengthen the platform," Mr Lulla said.
"The acquisition of a controlling stake in Techzone, a leading mobile value-added services provider, brings on board expertise in technology and solid distribution reach of mobile digital content."
"Our partnership with Hathway Cable to launch a subscription-based movie streaming service will enable their broadband subscribers to watch our library films from the ErosNow platform," he further said.
