SPN India posts 24.5% revenue growth in FY2017 but Net Profit declines by 4.50%
Sony Pictures Networks India has reported a rise in companyâ€™s revenue from operations by 24.5 per cent but the net profit ratio of the company has declined by 4.50 per cent in FY 2016-17 as compared to the previous financial year.
The company reported an increase of Rs 978.691 crore in revenue from operations from the year 2016. Revenue from operations in FY 2017 was Rs 4969.233 crore compared to previous year, which was Rs 3990.542 crore.
As compared to the year 2016, the companyâ€™s net profit declined by 4.50 per cent because the company has witnessed an Increase in depreciation expense by 50.5 per cent as compared to 201, which means the company has invested in fixed assets. Also the expenditure on production, transportation and other expenditure pertaining to exploration and production activities has increased as compared to 2016.
The other income has also reduced by 22.6 per cent as compared to last year. The company registered Rs 95.504 crore in 2017 as compared to Rs 123.276 crore in 2016.
Profit Before Tax (PBT) this year has increased by 18.9 percent as compared to the previous financial year. The finance cost has declined by 22.9 per cent in 2017 as compared to 2016 which means that company has relied on their own sources of funds rather than borrowing from market. Total expense of the company has increased by 23.9 per cent in 2017.
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