Star India has reported 93% drop in profit for FY18 at Rs 287 crore as compared to Rs 554 crores during FY17.
High Programming cost jumped to Rs 4,887.3 crore during FY18 from Rs 4,121.6 crore during FY17 as reported by Economics Times.
Company expense has increased to 12.2% at 8974 crores as compared to 7992 crores a year before. The company witnessed a hike of 7.8% in employees benefit expenses to Rs 895 crore.
However, Advertising Promotional expenses fell 6.8% at Rs 691 crore from Rs 738 crore in the corresponding year. And Revenue from operations also increased by 3.6% to Rs 9,148 crore from Rs 8,827 crore in FY17.
Star India has announced new discounted channel packs for subscribers. The company has now added new sports and English movies channels in existing bouquet. Earlier, there were no sports or English movies channels in Star India’s channel lists and it needed the subscribers to purchase the packs separately.
The company has also decided to broadcast Indian Premier League Season 12 (IPL 2019) live in eight languages, including Hindi and English, across nearly twenty Star India Network screens. Star has also announced launch of Star Sports Bangla in first week of March.