“Karan Johar’s Stake Sale: A Fix for Dharma’s Finances?”

Earlier this month, Karan Johar’s Dharma Productions made headlines by selling a 50% stake to Adar Poonawalla for ₹1,000 crore. Once seen as unbeatable, Dharma is now revealing serious financial issues.

During the 2010s, under Johar’s leadership, Dharma produced major hits like Yeh Jawaani Hai Deewani and Raazi, achieving over ₹700 crore in annual revenue and around ₹27 crore in profits by 2019. However, the pandemic hit hard, leading to an 83% drop in revenue and a 75% fall in profits.

Though it bounced back with hits like Brahmastra, 2023-24 was a tough year, with revenue falling 50% to just over ₹500 crore and profits plunging 95% to only ₹59 lakh. This raises questions about the need for Poonawalla’s investment, marking a significant change for the family-run company.

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