Star India Revenues – IPL & T20 World Cup Broadcaster: Disney owned Star India is back in black but only on account of reduced costs for the fiscal ended 31st March. According to business intelligence platform, Tofler Star India has reported net profit of Rs 815.72 crore as against a net loss of Rs 488.85 crore in the financial year.
IPL & T20 World Cup broadcaster Star India reports Rs 816 crore net profit in FY21, but revenues shrinks by 12%
Star India Revenues – IPL & T20 World Cup Broadcaster: Star India is one of the country’s leading media conglomerates, reaching around 700 million viewers a month on TV across India and over 100 other countries. But the impact of Covid-19, decrease in LIVE Sports & fresh programming has clearly impacted the revenues for the FY-20.
- Walt Disney-owned Star India has reported a 12% drop in consolidated revenue at Rs 12,664.36 crore for the fiscal ended 31st March as against Rs 14,337.46 crore – e4m has reported
- The company’s total expenses dropped 27%
- The broadcaster is back in the black with a net profit of Rs 815.72 crore as against a net loss of Rs 488.85 crore.
- On a standalone basis, the company reported a 13% drop in revenue at Rs 11,761.90 crore for the year ended March 31, 2021
- The company’s expenses contracted by 31% to Rs 9,667.57 crore as against Rs 14,055.50 crore.
- The company’s advertisement revenue shrank by 15% to Rs 5,918.98 crore from Rs 6,940.05 crore.
- Revenue from the theatrical distribution of films crashed to Rs 11.21 crore due to lack of release of films.
Disney+ Hotstar revenue grows 5% but losses widen for the leading OTT player
As reported earlier, Star India’s subsidiary Novi Digital Entertainment, which houses the streaming platform Disney+ Hotstar, has reported a 5% jump in revenue from operations to Rs 1670.63 crore in FY21 as against Rs 1593.02 crore in the previous financial year.
The company’s ad revenue saw a 15% decline to Rs 829.74 crore from Rs 974.23 crore. Subscription revenue saw a 34% increase to Rs 830.96 crore from Rs 618.79 crore.
IPL & T20 World Cup broadcaster Star India reports Rs 816 crore net profit in FY21, but revenues shrinks by 12%
