Financials
Eros profit grows despite lesser releases, demonetization
BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported 7.9 percent growth of consolidated profit after tax attributable (PAT) to Eros shareholders for the year ended 31 March 2017 (FY-17, current year, fiscal) despite releasing lesser films and demonetisation as compared to the previous year. Eros consolidated (PAT) for FY-17 was Rs 2,432.9 million (18.4 percent of Income from Operations) and Rs 2,386.7 million (15.1 percent of Income from Operations) for FY-16.The company’s Income from Operations in FY-17 dropped 11.6 percent to Rs 13,997 million from Rs15,826.8 million in FY-16.
The company released a total of 44 films including 5 high budget, 10 medium budget and 29 low budget films in FY-17 as compared to a total of 63 films including 6 high budget, 16 medium budget and 41 low budget films during the FY-16. In its investor presentation for FY-17, the company says Theatrical Revenues contributed – 42.5 percent, Overseas Revenues – 26.4 percent and Television & Others – 31.1 percent as a percentage of Income from Operations.
Eros reveals that Theatrical revenues in FY-17 included releases of ‘Housefull 3’, ‘Ki & Ka’, Baar Baar Dekho, Banjo, ‘Happy Bhaag Jayegi’, ‘Rock On 2’, ‘Nil Battey Sannata’, Kahaani 2 (overseas), Dishoom and regional films include Sardaar Gabbar Singh (Telugu), 24 (Tamil), Janatha Garage (Telugu), C/O. Saira Banu (Malayalam), Engitta Modhathe (Tamil), Bibaho Diaries (Bengali),
Singham 3 (Tamil), ‘Baghtos Kay Mujra Kar’, Chaar Sahibzaade2 (Punjabi) etc.
Total Income reduced 11.1 percent to Rs 14,452.8 million in FY-17 from Rs 16,257 million in the previous year. EBIT (Earnings before interest and taxes) increased 6.1 percent to Rs 3,767.5 million (26.9 percent of Income from Operations) in FY-17 from Rs 3,549.3 million (15.1 percent of Income from Operations).
Company Speak
Eros executive vice chairman and managing director Lulla said: “It is a matter of satisfaction that we have ended the fiscal year on a steady note despite the impact of demonetization on theatrical revenues in H2 of FY-17. This performance has been enabled by Eros’ consistent pre‐sales strategy which helps us de‐risk our business, effective monetization of our 2000 plus films library and a strong regional film strategy during the year.
The Indian film sector has attracted a lot of interest from international majors to build their film libraries in the recent past and as a result has driven up value of the Indian content. Eros’ key asset – a market leading content library is a major beneficiary of this trend which is only likely to become stronger. At the same time, in order to effectively manage the cost of our future content,
the company has taken active steps to develop its own intellectual properties over the past 2 years. The launch of Trinity Pictures, our film label for franchise films, investments in our joint venture Colour Yellow Productions and identifying the right films to sequel from our film library are concrete steps taken in this direction. We are excited about these developments and are
looking forward to FY-18 which will see the fruition of this strategy in a significant manner.
We are proud to have established a company with leadership position in a market that continues to witness strong growth and are confident that with our new initiatives, we will continue to enhance our market position.”
Let us look at the other numbers reported by Eros
Simple EBIDTA including other income in FY-17 increased by 6.1 percent to Rs 3,863.3 million (27.6 percent margin of Income from Operations) from Rs 3644 million (23 percent of Income from Operations).
Consolidated Net Finance cost in the current year increased 61 percent to Rs 545.2 million from Rs 338.6 million in the previous year.
Total Expenditure in FY-17 declined 13.9 percent to Rs 11,230.5 million (80.2 percent of Income from Operations) from Rs 13,046.3 million (82.4 percent of Income from Operations) in FY-16. The company’s Films rights costs including amortisation costs in FY-17 declined 12.5 percent to Rs 7,848.4 million (56.1 percent of Income from Operations) from Rs 8,964.8 million (56.6 percent of Income from Operations) in FY-16.
Employee Benefit Expense in the current year increased 25.5 percent to Rs 705.3 million (5 percent of Income from Operations) from Rs 561.9 million (3.6 percent of Income from Operations) in FY-16. Other expenses in FY-17 increased by 14.6 percent to Rs 2006.3 million (14.3 percent of Income from Operations) from Rs 1,751.2 million (11.1 percent of Income from Operations) in the corresponding of the previous year.
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
