Eros International, which has signed deals with several key Middle East telecommunications companies, has reported a surge in revenues on the back of some of the year's biggest Bollywood hits.
The Bollywood producer and film distributor, which is listed on the London Stock Exchange, reported revenues of US$92 million (Dh338m) for the six months to September 30, 35.3 per cent up on the same period last year.
Eros reported a six-month pre-tax profit of $29m, a 3.9 per cent increase on a year earlier.
Major film releases this year include the hugely successful Ready, starring Salman Khan.
It was also behind Ra.One, starring Shah Rukh Khan. Eros said the film grossed $45m in worldwide box-office receipts.
Eros said it had signed "video on demand" content deals with some of the largest telecoms companies in the Middle East region last month, providing filmed entertainment to Etisalat, Qatar Telecom and the Dubai-based Intigral, which provides internet-protocol TV services in markets including Saudi Arabia.
Eros said it would provide Qatar Telecom with a package of 300 Bollywood films and video clips and would provide Etisalat with five "blockbuster" movies a month over the next three years.
Eros derives more than half of its revenue from the India market, where it made $51.5m in the six months to the end of September, compared with $32.1m in the same period last year..
bflanagan@thenational.ae
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Arsenal's pre-season fixtures
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Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
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