Eros subsidiary's aim is true

Bollywood film maker Eros International said its Indian subsidiary Eros International Media (EIML) had a good box office track record in the April - June quarter.

Revenue was up 60% to $48.0m from a year earlier, while earnings before interest and tax jumped 42% to $9.7m.

EIML released 23 films during the quarter, the first of the subsidiary's financial year, up from 19 in the corresponding period of 2011.

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The group has got off to a positive start to the second quarter of the fiscal year, with the release of 'Cocktail' in July 2012 netting $18.5m worldwide.

"We are once again proud to have picked a fine slate of films such as Housefull 2, Ferrari Ki Sawaari and Vicky Donor which have not only performed well at the box office but also been successfully monetised across television and digital platforms," said Sunil Lulla, Managing Director of EIML.

"We are especially encouraged by the box office success of a modest budget film like Vicky Donor which demonstrated potential for smaller films among a growing multiplex audience and widening the appeal of our films," he added.

Shares of the parent company, Eros International, rose 5.5p to 194p in the morning session.

JH