Movie News
Dharma Productions recently sold a 50% stake to Adar Poonawalla's Serene Pictures for Rs 1000 crore, revealing financial struggles within the iconic Indian production house. Known for hits throughout the 2010s including Yeh Jawaani Hai Deewani and Raazi, Dharma's revenue soared pre-pandemic.
However COVID-19 severely impacted the cinema industry, causing an 83% revenue drop. Dharma initially rebounded post-pandemic with successful releases like Brahmastra and Sooryavanshi, reaching Rs 1000 crore revenue in 2022-23. Yet, 2023-24 marked a financial low with revenue halving to Rs 500 crore and profits plummeting 95% to Rs 59 lakh largely due to underperforming releases Selfiee and Yodha.
Financial strain and reduced cash flow reportedly pushed Karan Johar to sell half of Dharma ending its status as a family-owned company. Analysts believe Poonawalla's investment could stabilize Dharma, providing greater flexibility for future projects though the company’s recovery remains uncertain.
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