Star India has registered marginal increase in revenues during the 2018 fiscal. However, a 15% rise in operational costs and a gross 12.2% increase in overall expenditure has resulted in a massive decline in the company’s profits.
The company’s total expenses swelled at 12.2% to reach ₹ 8,974 crore, business daily Economic Times has reported quoting business intelligence platform Tofler.
The overall profit decline has been booked at 93% as profict fell to ₹ 287 crore during FY 2018 as compared to ₹ 554 crore during financial year 2017. The programming costs went up to ₹ 4,887.3 crore during the 2018 fiscal from ₹ 4,121.6 crore a year earlier.
The company’s total expenses swell 12.2% at ₹8,974 crore from ₹ 7,992 crore in the last fiscal while revenue from operations increased by a mere 3.6% to ₹ 9,148 crore from ₹ 8,827 crore during the corresponding period last year.
Company’s advertising promotional expenses fell 6.8% at ₹ 691 crore from ₹ 738 crore in the corresponding period. The company saw a rise of 7.8% in employees benefit expenses to ₹895 crore.
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The network reaches approximately to 720 million viewers a month across India and more than 100 countries. Star India generates more than 30,000 hours of content every year and broadcasts 64 channels.
Meanwhile, Star India has announced new channel packs for Indian users. The company has now added new sports and English movies channels in existing packages. Earlier, there were no sports or English movies channels in Star India’s channel lists and it needed the subscribers to purchase the packs separately. Well, this will not be the case going forward and users will be able to enjoy Star India’s English movies and sports channels.
As reported by InsideSport.co yesterday, Star Sports meanwhile has decided to broadcast Indian Premier League Season 12 (IPL 2019) live in eight languages, including Hindi and English, across nearly twenty Star India Network screens.
The Indian Premier League host broadcaster has so far confirmed the Season 12 broadcast in six Indian regional languages, besides Hindi and English. The Hindi broadcast if confirmed on Star Sports 1 Hindi HD and SD channels, while the live English broadcast will be on all other Star Sports pay channels.
Also read: IPL 2019: Star India eyeing ₹2,100 crore from advertisement sales
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