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.
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