Star India's FY23 profit declines 31% to Rs 1,272 crore, revenue rises 6 pc to Rs 19,856 crore

New Delhi: Broadcast major Star India's consolidated net profit declined 30.62 per cent to Rs 1,272.15 crore in the financial year ended on March 31, 2023, showed data accessed by business intelligence platform Tofler.

However, its revenue from operation in FY23 increased by 6.15 per cent to Rs 19,856.86 crore.

In the preceding financial year (FY22), Star India's net profit was at Rs 1,833.81 crore and its revenue from operation was at Rs 18,704.66 crore.

The total income of Star India, which is owned by US-based global media major Walt Disney Company, was at Rs 20,698.64 crore in FY23, up 8.6 per cent year on year.

Its total income was Rs 19,058.04 crore in FY22.

In FY23, Star India's total expenses were at Rs 18,759.31 crore, up 16.29 per cent year on year.

Star India is in the business of broadcasting, soliciting advertisements, marketing and distribution of non-news and current affairs TV channels, as well as in producing and distributing movies.

The company is a leading media & entertainment company in India and broadcasts about 51 television channels.

Segmentwise, on a standalone basis, Star India's revenue from advertisement fell 7.64 per cent to Rs 9,339.12 crore in FY23. It was at Rs 10,112.15 crore a year ago.

However standalone revenue from subscriptions rose 3.36 per cent to Rs 4,949.52 crore, in comparison to Rs 4,788.19 crore a year ago.

Similarly, Star India's revenue from licensing of content rights stood at Rs 2,863.80 crore, up 54.55 per cent.

Star India's revenue from theatrical distribution of films on a standalone basis was at Rs 180.34 crore, up seven-fold.