Hong Kong– It could take the Star Group a further four fiscal years to return to its previous peaks in profitability after a painful 2006/2007, according to Media Partners Asia. The pay TV company’s operating income in the year to June 30 plunged by almost 30% to $US91 million. “Going forward, we don’t believe that STAR’s story will substantially unravel further but it will likely lose its leadership in the Indian TV entertainment space this year,” MPA reports. MPA predicts Star’s earnings will be flat over the next fiscal year, then gain momentum from FYE June 2008 onwards with increased leverage from the launch of new TV channels and programs on existing properties; reducing programming costs; and growth in subscription revenue in India and Asia.