MUMBAI: Star India booked profit at Rs 2.87 billion during FY18, a 93% drop as compared to the Rs 5.54 billion recording during FY17.
The drop in profits was attributed to higher programming costs, which stood at Rs 48.873 billion during FY18, up from Rs 41.216 billion in the previous fiscal, Tofler reports.
According to the business intelligence platform, the media conglomerate’s total expenses rose 12.2% at Rs 8.974 billion, up from Rs 7.992 billion a year earlier.
It bears noting though, that revenue from operations increased, standing at Rs 9.148 billion, a 3.6% rise over the Rs 8.827 billion mopped up in FY17.
