Star India FY22 Net Profit Jumps 74% To <span Class='webrupee'>₹</span>1421.27 Crore, Revenue Up 38%
PremiumThe Walt Disney Company-owned Star India, an entertainment network, has posted a 74% increase in its consolidated net profit for the financial year ended 31 March 2022.
The Walt Disney Company-owned Star India, an entertainment network, has posted a 74% increase in its consolidated net profit for the financial year ended 31 March 2022. The company’s profit jumped to ₹1421.27 crore, from ₹815.72 crore in the corresponding quarter of the previous year.
According to date accessed by business intelligence platform Tofler, the company’s revenues for the financial year stood at Rs. 17,480.62 crore, a 38% jump over ₹12,664.36 crore in the year ago period.
Total expenses were reported as Rs. 15,652.92 crore, up 40.71% year-on-year.
Now known as Disney Star Pvt Ltd, the company runs more than 70 linear TV channels in eight languages, besides a movie production and distribution arm for both Hollywood and Indian films.
Revenue from advertisements rose to Rs. 8,948.35 crore, up from Rs. 5,918.98 crore the previous year. Subscription revenues also increased marginally to Rs. 4,757 crore as compared to Rs. 4,670.95 crore. Licensing of content rights brought the company Rs. 1,769.76 crore versus Rs. 1,160.76 crore last time. Theatrical distribution of films, on the other hand, helped clock in earnings of Rs. 25.64 crore as compared to Rs. 11.21 crore the year before that, when most cinemas were shut due to covid-19 restrictions.
Meanwhile, Novi Digital Entertainment Pvt Ltd, a subsidiary of Star India, which runs the company’s video streaming platform Disney+Hotstar, reduced losses to ₹343.16 crore, as compared to a loss of Rs. 600.77 crore the previous year.
The total income of the OTT platform almost doubled to Rs. 3,259 crore, from Rs. 1,794 crore in FY20-21.
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