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Home » Bollywood » Latest News

Eros profit boosted by love for Bollywood films

The company, which recently listed its unit Eros International Media on the Bombay Stock Exchange in India, gave a positive outlook for the year ahead with a strong list of forthcoming movies.

Pre-tax profits were up 13pc at $55.8m (£33.8m) for the year ending March 31. Revenue rose 10pc to $164.6m.

The Daily Telegraph recently reported that Eros has hired three banks as it seeks to move out of the Aim market later this year and the Lulla family plan to sell down their 70.5pc stake.

Eros has been working with Bank of America Merrill Lynch, Deutsche Bank and Evolution to advise on the initial public offering and the sale of some of the Lulla family's £191m holding.

Kishore Lulla, the executive chairman of Eros International, said the group is most likely to move to the main London market. However, Eros will also consider alternatives such as a primary listing in either New York or Hong Kong.

"This is the fifth consecutive year of increased profits for Eros as a Stock Exchange listed company," said Mr Lulla.

Eros releases more than 70 films a year and has a library of more than 2,000 film titles.

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