Sun TV Network Q2 results: Net profit drops 12% to Rs 409.1 crore

Sun TV Network, a South India-based broadcaster, reported a consolidated net profit decline of 11.9 per cent to Rs 409.1 crore for the quarter ended September 30, compared with the same quarter last year.

The company’s consolidated revenue from operations decreased by 10.86 per cent to Rs 934.5 crore on a year-on-year (Y-o-Y) basis for the July-September quarter.

Revenues (excluding movies and sports) for the July-September quarter rose by about 3.26 per cent to Rs 799.36 crore compared with the same quarter last year. Advertisement revenue increased by 2.14 per cent to Rs 335.42 crore on a Y-o-Y basis for the quarter ended September 30, according to the company’s statement in its press release.

The profit before interest, depreciation, and taxes (PBIDT) of the company declined by 15.1 per cent to Rs 713.1 crore on a Y-o-Y basis for the July-September quarter.

Sun TV Network operates satellite television channels in four southern languages—Tamil, Telugu, Kannada, and Malayalam—and three northern languages—Bangla, Marathi, and Hindi. It also airs FM radio stations across India and owns the SunRisers Hyderabad cricket franchise in the Indian Premier League and SunRisers Eastern Cape in Cricket South Africa’s T20 league. The company also has a digital over-the-top (OTT) platform, Sun NXT.

Sun TV Network reported a decrease in its earnings from its cricket franchises, SunRisers Hyderabad and SunRisers Eastern Cape, by 91 per cent to Rs 0.09 crore for the quarter ended September 30, compared with the same quarter last year. Business Standard