Star India posts Rs 14,337.46 crore in revenue from operations in FY20
The company's net loss narrowed to Rs 488.84 crore for the financial year ended March 31, 2020, compared to Rs 1216.13 crore in the previous financial year
Star India’s net loss narrowed to Rs 488.84 crore for the financial year ended March 31, 2020, compared to Rs 1216.13 crore in the previous financial year, according to Registrar of Companies (ROC) filing shared by market intelligence firm Tofler.
During the financial year, the company on a consolidated basis reported revenue from operations of Rs 14,337.46 crores, a jump of 16.73% as compared to the revenue of Rs 12,282.54 crores recorded during the previous financial year ended March 31, 2019.
Star India's revenue from advertising grew 8.07% in FY20 to Rs 7901.30 crore as compared to Rs 7311.20 crore in the previous fiscal. Meanwhile, the company’s subscription revenue witnessed a strong of 29.33% to Rs 5262.81 crore as compared to Rs 4069.44 crore.
We reached out to Star India for an official comment but didn’t receive any response at the time of filing the copy.
The media and entertainment company posted a growth of 35.68% in the revenue from licensing of content rights Rs 693.68 crore against Rs 511.27 crore and the revenue from theatrical distribution grew 22.74% to Rs 479.67 crore against Rs 390.81 crore for the financial year ended March 31, 2019.
During the financial year under review, Shyamala Venkatachalam stepped down as the Whole-time Director of the company with effect from September 15, 2019. Further, Sanjay Gupta resigned as the Manager of the company from December 27, 2019. The casual vacancy was filled by appointing Madhavan Kunniyur as the Manager from January 1, 2020.
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