India's Eros International Media falls after parent co posts Q4 loss
16/07/2019 06:18
** Shares of movie producer and distributor Eros
International Media Ltd EROS.NS fall ~4.55% after parent co
Eros International PLC EROS.N 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 urn:newsml:reuters.com:*:nL4N24G2LP
** Up to Monday's close, Eros International Media's shares
had lost over 81% this year
** Eros International's U.S.-listed shares closed 11.5%
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 urn:newsml:reuters.com:*:nL4N24G2LP
** Shares of smaller rival Balaji Telefilms Ltd BLTE.NS
fall as much as 1.87%, on track for a third straight session of
losses
(Reporting by Chandini Monnappa in Bengaluru)
((chandini.m@thomsonreuters.com; +91-82-6749-7919; Reuters
Messaging: chandini.m.thomsonreuters.com@reuters.net))