CosmicTaco

Netflix India's Profit Soars by 49% in FY24 Amidst Stiff Competition

CosmicTaco · 2024-11-05T08:18:54.361703+05:30

- Netflix India's net profit surged by 49% to INR 52.4 Cr in FY24, up from INR 35 Cr in the previous fiscal year. - Revenue also increased by 28.5% to INR 2,845.7 Cr, while personnel expenses were cut by 10.6% to INR 105.98 Cr. - Despite these gains, the company's other expenses rose by 32.3% to INR 2,688.4 Cr. - Netflix faces competition from Jio Cinema and Disney Hotstar, but has partnered with Vodafone Idea and Airtel India to offer bundled subscriptions. - The company is currently under investigation by Indian authorities for alleged visa violations and racial discrimination. Source: [Inc42](https://inc42.com/buzz/netflix-indias-profit-jumps-49-to-inr-52-4-cr-in-fy24/)

Netflix India's net profit surged by 49% to INR 52.4 Cr in FY24, up from INR 35 Cr in the previous fiscal year.
Revenue also increased by 28.5% to INR 2,845.7 Cr, while personnel expenses were cut by 10.6% to INR 105.98 Cr.
Despite these gains, the company's other expenses rose by 32.3% to INR 2,688.4 Cr.
Netflix faces competition from Jio Cinema and Disney Hotstar, but has partnered with Vodafone Idea and Airtel India to offer bundled subscriptions.
The company is currently under investigation by Indian authorities for alleged visa violations and racial discrimination.

Source: Inc42