Pooja Entertainment has been in the news since Bollywood Hungama did the viral story that Vashu Bhagnani sold off his seven-floor office in Juhu, Mumbai to pay off Rs. 250 crore debt. The report further mentioned that he also laid off 80% of employees following consecutive box office failures. Vashu Bhagnani, however, denied the reports. But soon it was reported that many crew members who worked on his recent releases like Bade Miyan Chote Miyan, Ganapath and Mission Raniganj haven’t been paid. Moreover, reports also stated that Bade Miyan Chote Miyan’s lead actors, too, haven’t got their share of remuneration.
REVEALED: Pooja Entertainment’s FY24 profit stands at Rs. 8 crore amidst Rs. 58.07 crore revenue
Today, that is, July 2, The Economic Times revealed some more information about the financials of Pooja Entertainment. As per their report, the company’s consolidated revenue in the financial year 2023-24 was Rs. 58.07 crores and their consolidated profit in the same financial year was Rs. 8 crores. In the previous financial year, while their revenues were Rs. 46.6 crores, their profit was Rs. 2.86 crores.
The Economic Times report further stated that in the previous six trading sessions, Pooja Entertainment’s stocks declined nearly 36%. On Monday, the stock closed at Rs. 298.85, 5% lower and it was the lowest tradable limit in the trading session. Interestingly, before Bollywood Hungama broke the story, the shares of Vashu Bhagnani Industries had nearly doubled in just one month, from Rs. 209 on May 24 to Rs. 410. The article also stated that the sharp swings in the share prices have raised eyebrows in Dalal Street, which houses the Bombay Stock Exchange.
Meanwhile, in a press statement, Jackky Bhagnani said that Bade Miyan Chote Miyan’s leading man Akshay Kumar had a meeting with him and has asked for his payment to be put on hold until the entire cast and crew has been paid.
Also Read: EXCLUSIVE: Vashu Bhagnani sells Pooja Entertainment’s seven-floor office to pay off Rs. 250 cr. debt; lays off 80% of employees following consecutive box office failures
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