Sun TV net profit down 7.25% in Q4FY23; up 3.95% for the full fiscal year

South India-based broadcaster Sun TV Networks reported a decline of 7.25% in its consolidated profit after tax (PAT) at Rs 380.40 crore for the March 2023 quarter.

The company had reported a PAT of Rs 410.17 crore in the January-March period a year ago, Sun TV Network said in a BSE filing.

Its revenue from operations was Rs 840.36 crore, 1.92% lower, during the period. It was Rs 856.85 crore in the year-ago period.

Sun TV Networks' total expenses in the fourth quarter stood at Rs 427.75 crore against Rs 367.09 crore in Q4 FY22.

Its total income during the March quarter was Rs 926.20 crore.

Sun TV said, "The results for the quarter and year ended March 31, 2023, includes income from the Holding Company's Cricket franchises (SunRisers Hyderabad and SunRisers Eastern Cape) for season 2023 of Rs 36.96 crore and Rs 287.27 crore, respectively".

Sun TV Network operates satellite television channels across six languages of Tamil, Telugu, Kannada, Malayalam, Bangla and Marathi, and airs FM radio stations across India.

It also owns SunRisers Hyderabad Cricket Franchise of the Indian Premier League, SunRisers Eastern Cape of Cricket South Africa's T20 League, and the digital OTT platform Sun NXT.

For the fiscal ended March 2023, Sun TV Networks' net profit rose 3.95% to Rs 1,706.92 crore. It had reported a net profit of Rs 1,641.91 crore in the year-ago period.

Its consolidated revenue from operations was Rs 3,772.05 crore in FY23, 5.22% higher than the preceding fiscal.

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