Eros bows as profits fail to hit the mark

Shares in Bollywood film studio Eros International took a hit on Friday as profits were dented by the group being on the wrong side of an interest rate swap.

Shares in Bollywood film studio Eros International took a hit on Friday as profits were dented by the group being on the wrong side of an interest rate swap.

Pre-tax profit for the year to March 31st was $53.6m (2011: $55.8m) on revenues of $206.5m (2011: $164.6m). Underlying earnings before interest, tax, depreciation and amortisation rose to $154.8m from $127.3m the year before. Basic earnings per share dropped from 38.6c per share to 31.9c.

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