During multimedia player search I found KM Player and I have been using it for the past one year. I used many players like VLC,MPlayer,BS Player,winamp and windows media player. This is very good player which supports many formats.
At present I am using version 2.9.4.1434R2 and its working fine. There was some problem when we use forward and backward skip by right and left arrows respectively. But this version is good and really working fine. One of the interesting things about this player is it has got lots of options and variety of settings.