Eros sees bumper FY on string of blockbusters

Eros sees bumper FY on string of blockbusters

Bangalore: Movie distributor Eros International Plc said it expected its full-year results to beat current market expectations, driven by strong performances from film titles like “Zindagi Na Milegi Dobara" (You Won’t Get Life Again) and “Ready".

Eros said it expected the strong first-half performance to continue in the second half, with a line-up expected to generate robust box-office returns.

Eros boasts of a strong slate of movies that include “RA.One", starring A-listers Shahrukh Khan and Kareena Kapoor, and “Rockstar," featuring Ranbir Kapoor.

Earlier this month, Eros signed a multi-film agreement with KT Corp, South Korea’s number two mobile carrier, to showcase 50 of its film titles on multiple digital platforms.

Analysts on average expect the company to report a pretax profit of $74.8 million on revenue of $207.8 million for the year ended 31 March, according to Thomson Reuters.

The company recently announced plans to release Tamil film “Endhiran" (Robot) in South Korea next month.

Earlier this month, Eros also signed an agreement with a Punjabi production company to co-produce a slate of regional language films.

Eros, which recently listed its unit Eros International Media Ltd on the Bombay Stock Exchange (BSE) in India, has a library of over 2,000 film titles.

The company’s shares, which have lost about a fifth of their value over the past year, were indicated up 1.4% at 12:05 pm on Thursday on the London Stock Exchange (LSE).