Hollywood is not the only film city profiting from Bollywood. Apparently, Bollywood itself is doing just fine–that is, if you use Eros as a measure.

A heavy-hitter entertainment company that distributed one of Bollywood’s top-grossing films, Om Shanti Om, Eros has reported record profits, according to a statement released by the Isle of Man-based corporation.

Through March, Eros’s annual revenues increased 70% to $113 million, while its recorded pre-tax profits were $45.5 million. Last year, Eros reported a pre-tax profit of $30.9 million.

Stock earnings per share increased 12% to 33.5 cents, according to Eros.

Last year, Eros released 18 films. Further, five of the top ten Indian box office successes were Eros productions, according to Eros CEO Kishore Lulla. He added that international theatrical revenues more than doubled from $21.1 million in 2006-2007 to $52.1 million in 2007-2008.

Eros also performed well on the small screen, with sales in its television division up 56% to $33 million.

The mega-company invested more than $200 million in 60 projects over the past two years, and Lulla believed Eros will continue to post high profits due to increased ticket sales, additional movie screens, and increased ticket prices.

In new media revenues, Eros earned $27.7 million–a 17% increase from last year. Eros has digital distribution deals with Amazon and Wal-Mart, as well as subscription video-on-demand with SingNet, RTM Malaysia, and Cablevision.