Companies

Eros Media Q3 net declines 3%

Our Bureau Mumbai | Updated on February 07, 2019 Published on February 07, 2019

Eros International Media saw its consolidated net profit decline 3.12 per cent to ₹63.01 crore in the quarter ended December 2018, against ₹65.04 crore in the previous year period.

Sales were up 52.93 per cent at ₹295.93 crore (₹193.51 crore).

Expenses for the quarter more than doubled to ₹255 crore (₹122 crore), primarily driven by higher film rights and amortisation costs. The expenses were high despite lower finance costs and employee benefits expense in the quarter compared to the same quarter last year.

Commenting on the performance, Sunil Lulla, Executive Vice-Chairman and MD of Eros International Media, said: “Our focussed approach of choosing a balanced slate spanning genres, languages and budgets continues to deliver positive results.”

Published on February 07, 2019
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