Star India reports massive loss

MUMBAI: India’s largest entertainment company Star India in the financial year ended March 2019 reported a Rs 1,216.13-crore loss against a net profit of Rs 287.69 crore a year ago, according to a report published in India Forums.

The news of the loss came only a few weeks after Sanjay Gupta, former Star and Disney India managing director made an exit to join Google India as the vice-president of sales and operations for the country.

Star India is an Indian media conglomerate, which has a network of over sixty channels in different languages. The media giant is a wholly-owned subsidiary of The Walt Disney Company India and recently announced the merger of its digital arm, Hotstar with Disney.

During the financial year, Star India invested heavily in Novi Digital, the holding company of Hotstar. Ajit Mohan, Chief Executive, Hotstar, also quit during the year.

Credits: India Forums