A 26% Revenue Boost for Eros
LONDON -- This morning, Eros International (ISE: EROS.L) reported a 26% year-over-year increase in revenue to $206.5 million, as well as a 17% increase in underlying operating profit to $66.7 million.
India accounted for 66% of Eros' revenue, while 13% came from Europe, 4% from North America, and 17% from the rest of the world.
Despite a 13.8% depression of the Indian rupee against the U.S. dollar, executive chairman Kishore Lulla said that investment in content will position Eros well for the future. However, the Bollywood film producer and global distributor has seen its share price tumble since the company announced its proposed listing on the New York Stock Exchange.
Eros now claims that given the current U.S. equity market conditions, it has not yet determined when to launch its intended NYSE listing. It will continue to monitor the situation, and when more clarity is available on timing, the company will make a specific announcement to the London Stock Exchange.
In the meantime, Eros will remain quoted on AIM.
With the shares down 6%, this morning's update from Eros International is another example of how companies can disappoint their shareholders. However, one expert investor is never afraid of buying into a falling share price. Legendary stock-picker Warren Buffett recently bought a stake in a prominent FTSE name that's currently trading well below its 2012 high. You can discover which "falling knife" he bought -- and the price he paid -- within "The One UK Share that Warren Buffett Loves." You can download this free Fool report about Warren Buffett's purchase today, but hurry -- it is available for a limited time only.
Are you looking to profit from this uncertain economy? "10 Steps To Making A Million In The Market" is the very latest Motley Fool guide to help Britain invest. Better. We urge you to read the report today -- it's free.
Further Motley Fool investment opportunities:
At the time thisarticle was published Sonia does not own shares in Eros International. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
