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  • Star India expenses up, profit plunged in FY18

    Star India expenses up, profit plunged in FY18

    MUMBAI: Star India witnessed a nosedive of 93 per cent in profit at Rs 287 crore during FY18 as compared to Rs 554 crore during FY17. This was apparently due to higher programming costs, which went up from Rs 4,121.6 crore in FY17 to Rs 4,887.3 crore during FY18, according to a report by Economic Times quoting business intelligence platform, Tofler.

    As per the financial data accessed by Tofler, the company’s advertising promotional expenses fell 6.8 per cent at Rs 691 crore from Rs 738 crore in the corresponding period. The company saw a rise of 7.8 per cent in employees benefit expenses to Rs 895 crore.

    The company’s total expenses grew by 12.2 per cent from Rs 7,992 crore in FY17 to Rs 8,974 crore in FY18. Revenue from operations saw a slight increase of 3.6 per cent to Rs 9,148 crore from Rs 8,827 crore in FY17.

    The broadcaster is planning to launch another regional channel to cater to the Bengali audience i.e. Star Sports 1 Bangla on 5 March 2019. 

    The broadcaster recently released its rate card after amendments on 21 February 2019 and added the channels in several bouquets. The company has now added new sports and English movies channels in existing packages.

    The company has also decided to broadcast IPL Season 12 live in eight languages, including Hindi and English, across nearly twenty Star India Network screens. The other languages are Tamil, Telugu, Kannada, Bengali, Marathi and Malayalam.

  • Facebook India reports 27% rise in profit in FY18

    Facebook India reports 27% rise in profit in FY18

    MUMBAI: According to Registrar of Companies (RoC) filings sourced by data platform Tofler, Facebook India Online Services reported a 27 per cent increase in net profit to Rs 77 crore for the year ended March 2018.

    Facebook reported a 53 per cent rise in revenue from operations to Rs 521 crore in FY18 from Rs 341 crore in FY17. At the same time, expenses went up 55.4 per cent to Rs 443.8 crore in FY18 from Rs 285.5 crore.

    The company’s employee benefit cost also rose 18 per cent to Rs 110 crore from Rs 89.6 crore last year.

    Although, Facebook reported a 53 per cent rise in revenue in FY18 but as per filings, it reveals that there has been a slowdown in the rate of growth. Facebook had reported a 93 per cent jump in revenue to Rs 342 crore in FY17 from Rs 177 crore in FY16. And with that, the growth in net profit also looks to have been slowing down as Facebook’s net profit had jumped 31 per cent to Rs 40.7 crore in FY17 from Rs 31 crore in FY16.

    After the Cambridge Analytica data breach, Facebook had drawn a lot of criticism both from users and advertisers. Since then, Facebook has tried to take several measures to fix the issues.

    To call attention, in India, Facebook has undertaken an offline process to verify identity and locations of political advertisers in India as the country’s general elections arrive next year.