Star India standalone profit after tax dips 44% in FY18 on higher expenses

Star India’s standalone profit after tax was down 44 per cent in FY18 as expenses increased at a faster pace while revenue growth was sluggish. According to the company’s filings with the Registrar of Companies, Star India’s revenue for FY18 rose 5.8 per cent to Rs 9,199 crore as against Rs 8,698 crore in FY17. The company’s net profit slumped from Rs 1,155 crore in FY17 to Rs 642 crore in FY18, a 44 per cent decline.

Data provided by financial data accessed by business intelligence platform Tofler indicates that the company’s total expenditure for the year grew 18.6 per cent to Rs 8,242 crore. In September 2017, Star India won the global media rights to the Indian Premier League for Rs 16,347.50 crore for five years (2018-2022).