Eros International Plc. (EROS.L), a co-producer and distributor of Indian language films in multiple formats, Thursday reported a lower pre-tax profit for the full year, particularly due to a 14.5 percent increase in cost of sales. Revenue, however, increased from last year.
For the year, the company reported profit before tax of $45.5 million compared with $53.6 million last year. After tax, profit for the year was $33.6 million, decreased from prior year's $43.5 million. Earnings per share were $22.7 for this year, compared with $31.4 per share last year.
Operating profit was $55 million compared with $61.4 million, while the underlying operating profit was $56.9 million compared with $66.7 million last year.
EBITDA decreased to $158.7 million from $149.5 million reported a year ago. Underlying EBITDA increased to $160.6 million from $154.8 million last year.
Revenue increased to $215.3 million from $206.5 million, while on constant currency it saw a 10.2 percent change from prior year's $195.4 million.
Looking ahead, the Group Chief Executive Officer Jyoti Deshpande said, "We have an exciting slate to look forward to in the year ending March 31, 2014 with a mix of high profile and medium and small budget films. One of our major releases Kochadaiyaan (Tamil) starring Rajnikanth did not release as planned in the year ended March 31, 2013 and will be released to take advantage of a holiday weekend in this calendar year."
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