Beijing, Jul 17 (IANS): China's most expensive fantasy epic film "Asura" has been pulled from cinemas after a dismal opening weekend, a media report said on Tuesday.

The 750 million yuan ($112 million) film reportedly made less than 50 million yuan on its weekend debut, the BBC reported.

Loosely based on Buddhist mythology, the movie tells the story of a shepherd protecting a mythical heavenly realm from attack.

Producers are reportedly planning to rework the movie and release it again at a later date.

Unless the film achieves much greater success the second time round, "Asura's" $105 million loss would make it one of the biggest flops in movie history.

The elaborate fantasy film was backed by some of China's major movie companies: Alibaba Pictures, Zhenjian Film Studio and Ningxia Film Group.

Before its release, the film was showered with praise by state media, with the China Daily calling it the "most hotly anticipated blockbuster of China's competitive summer season".