Comments
Shares of movie producer and distributor Eros International Media Ltd fall ~4.55 per cent after parent company Eros International PLC posted weak Q4 results.
Eros International, which owns a vast library of Bollywood movies and music, on Monday posted a quarterly loss due to an impairment charge and a rise in costs.
Up to Monday's close, Eros International Media's shares had lost over 81 per cent this year.
Eros International's US-listed shares closed 11.5 per cent lower on Monday.
Mumbai-based Eros International has been struggling after a ratings agency categorised its Indian subsidiary's debt at “default” levels due to delays in payments.
Shares of smaller rival Balaji Telefilms Ltd fell as much as 1.87 per cent, on track for a third straight session of losses.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.