Sun TV Networks posts Rs 487.86 cr net profit for Mar quarter

Sun TV Networks on Friday reported a consolidated profit after tax (PAT) of Rs 487.86 crore for the March 2021 quarter.

The company had reported a PAT of Rs 245.23 crore in the January-March 2020 period, Sun TV Network said in a BSE filing.

Its revenue from operations during January-March 2021 stood at Rs 802.55 crore. It was Rs 758.13 crore in the corresponding quarter of the previous fiscal.

Sun TV Networks” total expenses were Rs 352.02 crore in the fourth quarter ended March 2021.

Meanwhile, the company said the COVID-19 pandemic and the consequent lockdown have impacted the regular business operations of the Group.

“The results for the quarter and year ended March 31, 2021, are therefore not comparable with those for the earlier periods presented,” it said.

For the fiscal year ended March 31, 2021, Sun TV Networks” reported a net profit of Rs 1,525.24 crore. It had a net profit of Rs 1,385.49 crore in the previous year.

Its revenue from operation in the fiscal was at Rs 3,176.89 crore. It was Rs 3,519.85 crore in 2019-20.

“The results for the year ended March 31, 2021, and the quarter ended December 31, 2020, include income from the company”s IPL franchise SunRisers Hyderabad for season 2020 of Rs 254.60 crore and Rs 209.07 crore, respectively [year ended March 31, 2020 for season 2019 (partial) of Rs 244.40 crore].

“[(They also include) corresponding costs of Rs 161.81 crore and Rs 129.71 crore, respectively — year ended March 31, 2020, for season 2019 partially of Rs 139.29 crore)],” Sun TV Networks said.

Sun TV Network operates satellite television channels across five languages of Tamil, Telugu, Kannada, Malayalam and Bangla. It airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League and Digital OTT Platform Sun NXT.

Share of Sun TV Networks Ltd on Friday settled at Rs 530.95 apiece on the BSE, down 0.18 per cent from the previous close. Outlook India