Walt Disney-owned Star India's consolidated net profit for FY23 has dropped 31% year over year to Rs 1,272 crore. The figure stood at Rs 1834 crore in the previous fiscal. The company has declared the figures in the financial statement filed with the Registrar of Companies (RoC).

The company's operating revenue from TV and digital businesses increased by 6% to Rs 19,857 crore. Its total income increased by 9% to Rs 20,699 crore.

However, for the fiscal year, Star India's ad revenue declined by 4% to Rs 11,186 crore. Subscription revenue (both TV and digital) grew 14% to Rs 7,001 crore. The company's earnings from licensing content rights surged 74% to Rs 1,446 crore.

Recently, Walt Disney disclosed that its sports business in India reported an operating loss of Rs 3,703 crore for the nine months ended July 1 on revenue of Rs 5,313 crore.

Novi Digital Entertainment, the company's subsidiary, which owns Disney+ Hotstar, has seen a 118% jump in net loss to Rs 748 crore, while revenue jumped 35% to Rs 4,341 crore.