x Abu Dhabi, UAEThursday 20 July 2017

Bollywood hits boost Eros profits

Eros International reports a 35.3 per cent surge in revenues on the back of some of the year's biggest Bollywood hits.

Eros International, which has signed deals with several key Middle East telecommunications companies, has reported a surge in revenues on the back of some of the year's biggest Bollywood hits.

The Bollywood producer and film distributor, which is listed on the London Stock Exchange, reported revenues of US$92 million (Dh338m) for the six months to September 30, 35.3 per cent up on the same period last year.

Eros reported a six-month pre-tax profit of $29m, a 3.9 per cent increase on a year earlier.

Major film releases this year include the hugely successful Ready, starring Salman Khan.

It was also behind Ra.One, starring Shah Rukh Khan. Eros said the film grossed $45m in worldwide box-office receipts.

Eros said it had signed "video on demand" content deals with some of the largest telecoms companies in the Middle East region last month, providing filmed entertainment to Etisalat, Qatar Telecom and the Dubai-based Intigral, which provides internet-protocol TV services in markets including Saudi Arabia.

Eros said it would provide Qatar Telecom with a package of 300 Bollywood films and video clips and would provide Etisalat with five "blockbuster" movies a month over the next three years.

Eros derives more than half of its revenue from the India market, where it made $51.5m in the six months to the end of September, compared with $32.1m in the same period last year..

bflanagan@thenational.ae

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