INSUBCONTINENT EXCLUSIVE:
Colosceum Media, and a minority stake in Balaji Telefilms.3 min read Last Updated : Oct 14 2024 | 9:28 AM IST
Reports emerged last week
that Saregama is eyeing a majority stake in Dharma Productions
Now Reliance Industries Ltd (RIL) is reportedly in discussions to acquire a stake in Bollywood filmmaker Karan Johar's Dharma Productions,
reported The Economic Times.
If finalised, the deal would strengthen the oil-to-telecom giant's foothold in India's content production
However, the exact size of the stake under negotiation remains unclear.Click here to connect with us on WhatsApp
Karan Johar has been
seeking to monetise his stake in Dharma Productions for a while, but previous deals failed due to differences over valuation, the report
office collections of Rs 700 crore in FY24
Productions
Earlier this month, reports indicated that Dharma was in talks with Saregama, part of the RP Sanjiv Goenka Group, to sell a
However, in an October 8 filing to the Bombay Stock Exchange (BSE), Saregama stated that there were no substantial updates on the
matter.
In response to these reports, Saregama India issued a statement to the stock exchange, clarifying that while the company regularly
evaluates strategic opportunities for growth, there were no material developments to report at that time.
Saregama also affirmed that it
financial performance
In FY23, Dharma Productions saw its revenue increase nearly fourfold to Rs 1,040 crore, compared to Rs 276 crore the
Despite this, net profit dropped by 59 per cent to Rs 11 crore due to a sharp rise in expenses, which surged 4.5 times to Rs 1,028 crore,
140 crore from digital platforms, Rs 83 crore from satellite rights, and Rs 75 crore from music
In contrast, the previous year saw lower earnings of Rs 19 crore, Rs 167 crore, Rs 34 crore, and Rs 21 crore from these respective
sources.First Published: Oct 14 2024 | 9:26 AMIST
