Film Production
Eros back in the frame with Q3 profit of Rs 114 crore after losses
MUMBAI: Bollywood’s box office may be unpredictable, but Eros International Media Limited has delivered a plot twist of its own swinging back into profit in the third quarter of FY24 after a string of red numbers.
The company’s consolidated results for the quarter ended 31 December 2024 show a net profit of Rs 114.4 crore, compared to a steep loss of Rs 528 crore in the same quarter last year. Even more telling, this turnaround follows a loss of Rs 117 crore just in the September quarter. For the nine months ended December 2024, Eros clocked Rs 1,376 crore in profit, a remarkable bounce from the Rs 1,298 crore loss recorded in the same period of FY23.
Revenues, however, told a more modest story. Income from operations in Q3 stood at Rs 13.08 crore, down from Rs 31.57 crore a year ago. Total income came in at Rs 38.65 crore, versus Rs 254.55 crore in the previous nine-month period, suggesting the focus was less on topline growth and more on aggressive cost management.
That cost discipline was evident in the expense sheet. Operational costs, including content amortisation, were Rs 19.76 crore, down from Rs 81.51 crore last year. Other expenses were pruned to Rs 2.82 crore in the quarter, compared to a hefty Rs 477 crore in the year-ago period. Finance costs and employee expenses also dipped, helping Eros reverse the narrative.
Earnings per share (EPS) reflected the turnaround too, with basic EPS at Rs 11.9 for Q3 compared to a negative Rs 42.9 for FY24. Total comprehensive income for the quarter stood at Rs 370 crore, again a sharp rebound from the Rs 409 crore loss in Q3FY23.
The board, which met on 3 September, also approved an application to extend the deadline for its annual general meeting (AGM) for FY25, even as it cleared the unaudited results reviewed by Haribhakti & Co. LLP.
For investors, the Eros saga now reads like a redemption arc from a cliffhanger of mounting losses to a surprise happy ending in Q3. The real question is whether this revival is a one-off cameo or the start of a sustained sequel.
Film Production
Disney to cut 1,000 jobs under new chief executive
The entertainment giant’s freshly installed boss inherits a restructuring already in motion, with marketing and corporate roles bearing the brunt
CALIFORNIA: Walt Disney is preparing to slash up to 1,000 jobs in the coming weeks, the Wall Street Journal reported, as the entertainment giant’s freshly installed chief executive moves swiftly to trim fat and tighten the ship.
The cuts, less than 1 per cent of Disney’s global workforce of 231,000, will fall hardest on marketing and corporate roles. The planning, notably, began before D’Amaro formally took the top job in March, suggesting the new boss inherited a restructuring already in motion rather than one of his own making.
Driving the push is Asad Ayaz, Disney’s newly appointed chief marketing officer, who in January assumed command of a unified, company-wide marketing operation spanning film, television and streaming. His consolidation drive has been given a suitably cinematic internal name: Project Imagine.
The move is modest by Disney’s recent standards. Between 2023 and 2025, under former chief executive Bob Iger, the company eliminated roughly 8,000 positions across several brutal rounds of cuts, saving $7.5 billion, comfortably exceeding its own targets. As recently as June 2025, several hundred more jobs were axed across Disney Entertainment, hitting film and television marketing, publicity, casting, development and corporate finance.
Disney’s structural headaches are well-documented: shrinking streaming margins, a weakened box office, and fierce competition from Amazon and YouTube gnawing at its flanks. The company is merging its Disney+ and Hulu teams into a single app, has brought in consultants from Bain & Co to guide its broader cost strategy, and is betting heavily on digital growth.
The wider entertainment industry offers little comfort. Sony Pictures, Paramount and Warner Bros. Discovery have all taken the knife to their workforces in recent years, and further cuts loom if Paramount’s acquisition of Warner goes through.
For D’Amaro, the message is clear: there will be no honeymoon period. The magic kingdom still has some cost-cutting spells left to cast.
