 "Yash Raj Films, YRF")
On the back of box-office hits like Pathaan and Tiger 3, the revenue of Yash Raj Films jumped almost 2.5 times to Rs 1,508 crore in the year that ended on March 31, 2023, according to a report by the Economic Times (ET) on Friday. In 2021-22, the company had reported a revenue of Rs 619 crore.
The box office collection for Salman Khan-starrer Tiger 3, which was released in November last year, was Rs 480 crore. For Shahrukh Khan-starrer Pathaan, which was released on January 25, the collections topped Rs 1,100 crore.
Owing to healthy growth in revenue, the company's net profit also jumped 10.3 per cent to Rs 117 crore in FY23. Its expenses were up 2.8 times to Rs 1,375 crore, the report added. The jump in net profit is despite not-so-good performances by some of the studio's movies like Samrat Prithviraj, Jayeshbhai Jordar and Shamshera.
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2023 marked an important year for movies and movie studios in the country. According to a report by Mint, the gross box office collection in the year may breach the Rs 12,000 crore mark due to hits like Jawan, Gadar 2 and Animal. It would be higher than the 2019 record of Rs 10,948 crore.
Moreover, according to BookMyShow's Best of 2023 annual report released last week, 1,648,508 people went to cinemas. Each enjoyed at least six movies this year, with an average frequency of once every two months.
In 2023, YRF also forayed into docuseries with The Romantics on Netflix and a thriller series, The Railway Men, also on Netflix. Both shows resonated with viewers on Netflix.
YRF's chief executive, Akshaye Widhani, was quoted in the ET report as saying that the outlook for 2024 remains positive for the studio.
