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
Arka Mediaworks onboards 88 Pictures as animation studio partner on ‘The Eternal War – Part 1’
Arka Mediaworks announces that 88 Pictures, the acclaimed animation and visual storytelling studio known for its cutting-edge CGI and cinematic artistry, is on board as the animation partner for the highly anticipated Baahubali: The Eternal War, a groundbreaking two-part 3D animated feature film set in the globally beloved Baahubali universe.
Baahubali: The Eternal War represents a bold new chapter in the Baahubali saga envisioned for national and international audiences and crafted with the ambition of delivering one of India’s most ambitious and globally benchmarked animation projects to date.
88 Pictures will execute the animation production, bringing to life the film’s richly detailed worlds, epic battle sequences, and larger-than-life characters with its signature blend of artistic vision, performance-driven animation, and advanced production pipelines. Working closely with the film’s creative leadership and technical partners, the studio aims to set new benchmarks in animation quality, cinematic storytelling, and global scalability.
This animated epic follows the successful re-release of Baahubali: The Epic (the combined theatrical version of the original live-action films) on 31 October 2025 across India and the USA. During the film’s interval, legendary creator and director S.S. Rajamouli (Baahubali 1 & 2, RRR) stunned audiences with a surprise teaser for The Eternal War – Part 1. The video immediately went viral, garnering widespread national and international acclaim across LinkedIn, Instagram, and YouTube for its ambitious visual style and scale.
Produced by Arka Mediaworks and led by co-founder and CEO Shobu Yarlagadda – producer of the iconic Baahubali duology, The Eternal War brings together fantastic storytelling and cutting-edge animation.. The film is directed and written by acclaimed animation filmmaker Ishan Shukla (Schirkoa: In Lies We Trust, Star Wars: Visions – “The Bandits of Golak”) and screenplay by Scott Mosier (The Grinch). Mihira Visual Labs, the studio co-founded by Yarlagadda anchors the film’s animation, visual development, and execution.
The partnership with 88 Pictures brings significant pedigree to the project; the studio is well-regarded for its work on high-profile international titles including DreamWorks’ series Trollhunters, the HBO Max original series Gremlins: Secrets of the Mogwai, Disney’s animated short An Almost Christmas Story to name a few.
Yarlagadda shared, “We are happy to onboard 88 Pictures as the animation studio partner for our prestigious and most expensive animated film from India. We believe that their expertise and capabilities will allow us to produce a first-of-its-kind, world-class animated feature film from India.”
88 Pictures founder & CEO Milind D. Shinde said, “Baahubali changed the way cinema is perceived and became a defining milestone that turned the tide for Indian live-action filmmaking. Expanding the franchise into an entirely new universe—at a never-seen, never-done scale—through an animated feature created in India for a global audience is set to redefine how the world views Indian animation. We are truly thrilled to be part of this landmark project and to bring it to life under the visionary direction of Ishan Shukla, guided by the experience and leadership of acclaimed producer Shobu Yarlagadda.”
Shukla expressed, “Eternal War requires a level of visual and emotional precision that can only come from teams who truly understand both craft and intent. Working with 88 Pictures, alongside Mihira Visual Labs, has been a deeply collaborative experience. This association brings together technical excellence and creative sensitivity, enabling us to translate an ambitious vision into a compelling cinematic reality.”
Baahubali: The Eternal War – Part 1 is scheduled for release in 2027
