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Star expecting to break even this year

19-May-2001
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Star expecting to break even this year

Star India Ltd, a subsidiary of the Rupert Murdoch-controlled Star Group Ltd, is expecting to break even when the financial year closes on June 30. The Indian operations this year is expected to earn around Rs 450 crore revenues— the highest since till Star channels started beaming into India in 1991-92, but still lower than the projected figures of competitors like Zee and Sony.

As part of its expansion plans, Star India is also likely to get active on the terrestrial broadcasting front.

According to sources, the company has already exceeded its revenue target for this fiscal and if everything goes well, it may end up with revenue figures of over Rs. 450 crore.

Though this may be the first time that Star Network in India is clocking impressive figures, it is interesting to see where it stands compared to competitors like Zee Network and Sony.

Sony Entertainment TV India in the financial year 1999-2000 had mopped up over Rs 400 crore of revenues with the target for 2000-01 being about Rs 600 crore.

Though Zee Telefilms Ltd, a listed company, has not yet declared its fourth quarter year results yet, the net profit for Q3 was up 29 per cent to Rs. 32.1 crore on a total income of Rs 113.3 crore.

But the consolidated net profit of Zee Network, including ZTL, was down 26 per cent. The nine-month net profit of ZTL stood at Rs 90.9 crore, while the consolidated net profit was pegged at Rs 143.6 crore on a total income of Rs 716 crore.

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