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Star India reports loss of Rs. 1.216 crore for period ending FY 2019

Star India has reported a loss of Rs. 1.216 crore for FY 2019, compared to last year, the conglomerate garnered a net profit of Rs. 287.7 crore.

The company recorded expenses of Rs. 4,000 crore on the Indian Premier League (IPL). However, its revenues did increase by 35% during the year.

According to The Economic Times, Star India’s total revenue from operations stood at Rs. 12.341 crore, compared to Rs. 9.149 crore last year. This includes advertising revenue of Rs. 7.311 crore – up 49% and distribution revenue of Rs. 4.128 crore – up 9%.

The company’s total expenditure jumped 58% to Rs. 13.707 crore from Rs. 8.694 crore last year. It is said that the costs could be attributed to a 66% increase in programming and operating costs to Rs. 10.296 crore, a 34% jump in employee cost to Rs. 1.198 crore and a 57% hike in marketing costs to Rs. 1.169 crore.

It was during this period, Walt Disney acquired Rupert Murdoch’s 21st Century Fox Inc, for $71 billion cash and stock deal in June 2018. The Star Network channels now all operate under the Disney brand.