Un-audited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2024
Awaiting price reaction for this filing.
Eros International Media reported results for the quarter and nine months ended December 31, 2024, approved at a board meeting held on September 3, 2025 — a significant delay of nearly nine months from the period end. On a standalone basis, the company swung to a quarterly profit of Rs 1,674 lakhs (from a loss of Rs 4,226 lakhs a year ago), while nine-month profit stood at Rs 508 lakhs versus a Rs 14,439 lakhs loss in the prior year period. On a consolidated basis, nine-month revenue fell sharply to Rs 5,124 lakhs from Rs 8,105 lakhs, but PAT turned positive at Rs 13,760 lakhs (vs loss of Rs 12,985 lakhs). The profitability, however, is largely driven by non-recurring items — Rs 2,303 lakhs from sale of office premises and Rs 2,500 lakhs from an arbitration award treated as 'Other Income'. The auditor (Haribhakti & Co.) issued a Qualified Conclusion flagging long-overdue trade receivables of Rs 14,893 lakhs from group entities like Eros Worldwide FZE, and also highlighted a Material Uncertainty Related to Going Concern as the company's net worth has been fully eroded and current liabilities exceed current assets.
Despite the headline return to profitability, the earnings are propped up by one-time gains and asset sales rather than core operations, while revenue continues to shrink sharply. Combined with the auditor's going-concern warning, qualified opinion, and ongoing SEBI investigation and Enforcement Directorate search, the stock carries significant fundamental and regulatory risk for shareholders.