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In its board meeting on May 29, 2023, Eros International Media Ltd. published financial results for Q4FY23 and FY23. The company's revenues for the fiscal year that ended on March 31, 2023 (consolidated), grew by 62.44% year on year to Rs. 756.51 Cr. The company's revenue for the quarter ended March 31st, 2023 (consolidated), jumped by 1108% QoQ from Rs. 33.46 Cr (Q3FY23) to Rs. 404.47 Cr (Q4FY23).
Profit Before Tax (PBT) was reported as loss at Rs. 119.78 Cr in FY23, while it was reported as loss at Rs. 6.35 Cr in Q4FY23. Losses narrowed QoQ from Rs. 51.22 Cr in Q3FY23 to Rs. 6.35 Cr in Q3FY23. The net profit was negative (loss), narrowing QoQ from the loss of Rs. 34.29 Cr. in the Q3FY23 quarter to Rs. 13.20 Cr in Q4FY23.
The shares of Eros International Media opened today on the BSE at Rs 25.10 apiece and went on to hit an intraday high of Rs 30.20. The stock was last seen trading at Rs 28.54 up by 12.58% from the previous close of Rs 25.35. The stock touched a 52-week-high of Rs 47.85 on (02/09/2022) and a 52-week-low of Rs 20.00 on (05/08/2022).
During Q4FY23, the company reported promoters stake of 48.05%, FIIs stake of 2.39% and public stake of 49.55%.
Post Q4 results of Eros International, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Decent Q4FY23 results as compared to the previous quarter along with good reduction in debt has led to a good rally in Eros International stock price with next resistance at 29.8 on the Daily charts. Investors should book profits at current levels or hold till Daily support of 26.75 is not breached."
Disclaimer
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