Bollywood moviemaker Eros International (LON:EROS) said the results for the year to end March were “impressive” thanks to a boost from a surge in theatrical revenues.
Total revenues surged 25.5 percent from the previous year to US$206.5 million, leading to a 22.6 percent jump in core earnings to US$154.8 million, while underlying operating profits climbed 17 percent to US$66.7 million.
The group got a boost from the release of a number of high profile films during the year including Ra. One, Zindagi Na Milengi Dobara, Ready, Rockstar and Desi Boyz.
“These results are all the more impressive as they have been achieved despite the 13.8pct depreciation of the Indian Rupee against the US Dollar,” said executive chairman of Eros Kishore Lulla.
“Expected growth in the Indian entertainment sector, our global film distribution network and our ongoing investment in content will position us well for the future.”
The company also told investors that the agreement to acquire a 100 percent control of Bollywood television network B4U Television Network has not been completed on time and has been cancelled.
Eros continues to own a 24 percent stake in B4U.