Eros International Media Limited has submitted to the Exchange the financial results for the period ended September 30, 2024.
Awaiting price reaction for this filing.
Eros International Media filed unaudited financial results for Q2 and H1 FY25 (ended September 30, 2024), accompanied by a qualified auditor review on standalone results and a disclaimed conclusion on consolidated results. Standalone performance was weak: Q2 net sales fell sharply to ₹1,161 lakhs from ₹3,572 lakhs a year earlier (~67% decline), with a pre-tax loss of ₹501 lakhs. Standalone net worth is fully eroded at negative ₹48,572 lakhs and the company has defaulted on statutory dues. Consolidated H1 FY25 reported a pre-tax profit of ₹13,843 lakhs, but this was driven entirely by one-time items — a ₹15,431 lakh reversal of impairment at a foreign subsidiary and a ₹2,303 lakh profit from sale of office premises. The auditor flagged material uncertainty on going concern. Long-overdue trade receivables from group entities (Eros Worldwide FZE, Eros International UK, Eros USA) exceed ₹25,000 lakhs, with ₹25,150 lakhs already provided as expected credit loss. SEBI and Enforcement Directorate investigations remain ongoing, with next hearing scheduled for September 22, 2025.
Shareholders face heightened risk — going concern doubt, fully eroded standalone net worth, ongoing SEBI/ED investigations, and reported profits that depend almost entirely on one-time gains rather than core operations. The stock is likely to remain under pressure given weak underlying revenues and unresolved regulatory overhang.