Submission of unaudited financial results for the quarter ended 30th June 2024 alongwith limited review report
Awaiting price reaction for this filing.
Eros International Media submitted its unaudited standalone and consolidated financial results for the quarter ended 30 June 2024 (Q1 FY25), approved at the board meeting held on 14 May 2025. On a consolidated basis, the company swung to a profit after tax of ₹13,787 lakhs compared to a loss of ₹11,175 lakhs in Q1 FY24, while revenue from operations rose sharply to ₹2,182 lakhs from ₹652 lakhs. The standalone results, however, still showed a loss after tax of ₹665 lakhs, although narrower than the ₹8,138 lakhs loss a year earlier. The profitability was largely driven by a one-time reversal of impairment of ₹15,431 lakhs and a ₹2,303 lakhs profit on sale of office premises shown under other income. The board also approved new internal auditor (Patni Mandhana & Associates), secretarial auditor (C R Bhagwat), and transfer pricing auditor (Walker Chandiok & Co.).
Despite the headline swing to profit, the earnings depend heavily on non-recurring items, and underlying business remains weak. The auditor has flagged a material uncertainty on going concern (eroded net worth on a standalone basis, current liabilities exceeding current assets) and issued a qualified conclusion due to long-overdue related-party receivables, ongoing SEBI proceedings, and Enforcement Directorate searches — all of which are significant risks for shareholders.