Dharma rev drops 50%, profit at Rs 59L

Dharma Productions' net profit has fallen to Rs 59 lakh, down from Rs 10.6 crore in FY23, as per the company’s financial report

by e4m Staff
Published: Oct 21, 2024 1:53 PM | 1 min read

Just before joining hands with Adar Poonawalla, filmmaker Karan Johar’s Dharma Productions reported a steep decline in its revenue from operations, which fell by over 50% to Rs 512 crore in FY24, down from Rs 1,040 crore in FY23.

Net profit plummeted to Rs 59 lakh, down from Rs 10.6 crore in FY23. This was despite the fact that the company’s managers and directors didn’t take any remuneration in this period. Total expenses for FY24 decreased by 49.7% to Rs 517 crore, compared to Rs 1,028 crore in the previous fiscal year, according to financial data from Tofler.

Dharma submitted its FY24 financials to the Ministry of Corporate Affairs on October 17, sources said.

In FY24, the company’s revenue streams included ₹111 crore from film distribution and exhibition, reflecting an 83% decline from ₹656 crore in FY23. Revenue from satellite rights decreased by 15%, totalling ₹70.3 crore compared to ₹83 crore in the previous fiscal year.

The costs associated with production, acquisition, and revenue sharing declined by 92 % to ₹54.97 crore, down from ₹692 crore in FY23.

In contrast, remuneration for artists and technicians increased by 4.4% to Rs 142 crore, up from Rs 136 crore in the previous fiscal year. Additionally, general production expenses rose to ₹190 crore, compared to Rs 125.5 crore in FY23.

On a positive note, revenue from digital platforms grew by 16.4%, rising to ₹163 crore from ₹140 crore. Additionally, revenue from music increased to ₹82 crore in FY24, up from ₹75 crore in FY23.