Outcome of Board Meeting held on September 03, 2025
Awaiting price reaction for this filing.
Eros International Media's board approved its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024. On a standalone basis, the company swung to a profit of Rs 508 lakhs for 9M FY25 from a loss of Rs 14,439 lakhs a year earlier, though operational net sales fell to Rs 3,819 lakhs from Rs 4,478 lakhs. On a consolidated basis, PAT also turned positive at Rs 13,760 lakhs versus a loss of Rs 12,985 lakhs, driven heavily by other income of Rs 20,331 lakhs (which included Rs 2,303 lakhs from sale of office premises, Rs 2,500 lakhs from an arbitration award, and a Rs 15,431 lakh gain from a foreign subsidiary). Consolidated operational revenue declined sharply to Rs 5,124 lakhs from Rs 8,105 lakhs. The board also approved seeking an extension for holding the AGM for FY ending March 31, 2025.
This is a high-risk filing for shareholders. The auditor flagged a material uncertainty on going concern (standalone net worth fully eroded, current liabilities exceed current assets; consolidated has defaulted on statutory dues) and issued a qualified conclusion, with no conclusion expressed on consolidated results due to unresolved matters. Add ongoing SEBI show-cause proceedings, Enforcement Directorate searches, and massive overdue related-party receivables, and the positive PAT is largely cosmetic — driven by one-off gains rather than operations.