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
Priyanka Kaur Dhillon joins SVF Entertainment as lead for music distribution
A seasoned content dealmaker with 16 years in digital and satellite media joins the Bengali entertainment powerhouse as it pushes into the pan-India music market
Mumbai: Priyanka Kaur Dhillon has made her move. The content acquisitions and commercials veteran, most recently commercial manager at Sony Pictures Networks India, has joined SVF Entertainment as lead for music distribution, stepping into one of the more interesting briefs in regional entertainment right now.
SVF is no ordinary regional label. Over 30 years it has built a formidable legacy in Bengali cinema and music, driven by culturally resonant storytelling and a catalogue that consistently punches above its weight. Its recent success with Chiraiya underlines the point. But the Kolkata-based powerhouse now has its sights firmly set beyond Bengal, most visibly through Legacy, a rap reality series produced in collaboration with hip-hop label Kalamkaar that signals a deliberate push into the pan-India music ecosystem.
Dhillon brings precisely the kind of muscle SVF needs for that expansion. At Sony Pictures Networks India, she led film acquisition and commercials and handled music licensing across the entire satellite network. Before that, she spent nearly 15 years at Hungama, rising to assistant general manager and leading strategic content licensing for the platform’s digital entertainment business, with a particular focus on international markets. Her label relationships span the full roster: Sony Music, Universal Music, Warner Music, Believe International, Tunecore, The Orchard and a clutch of smaller aggregators. She has negotiated and closed deals with Hollywood studios, Bollywood production houses and regional content players alike, building pricing models and deal structures off data analysis rather than instinct.
Announcing the appointment, Dhillon said she was “thrilled to begin this journey with an iconic Bengali music label and content powerhouse,” adding that SVF’s “constant drive to push boundaries” was what drew her to the role.
SVF has spent three decades proving that regional does not mean limited. With a sharp commercial operator now steering its music distribution, its bid to go national just got a good deal more serious.
