Sun TV Network reports 20% rise in Q1 PAT at Rs 592 crore

Sun TV Network reported a 19.85% increase in consolidated profit after tax (PAT) at Rs 592.08 crore for June quarter 2023-24, helped by its cricket franchises.

The South Indian-based broadcaster had reported a PAT of Rs 493.99 crore in April-June period a year ago, it said in a BSE filing.

Revenue from operations was Rs 1,349.22 crore as against Rs 1,219.14 crore in the year-ago period, Newsdrum reported.

Total expenses were at Rs 644.47 crore, down 2.47% from the year-ago period.

Total income in the June quarter was Rs 1,470.12 crore, up 11.11%.

"The advertisement revenue for the quarter was at Rs 339.10 crore as against Rs 343.17 crore for the corresponding quarter ended June 30, 2022," said Sun TV.

Its domestic subscription was at Rs 435.34 crore in June quarter as against Rs 410.61 crore earlier.

Results for the latest quarter include income from the holding company's cricket franchises (Sunrisers Hyderabad and Sunrisers Eastern Cape) for season 2023 of Rs 512.66 crore and corresponding costs of Rs 228.04 crore.

Results for the quarter ended June 30, 2022, include income from the holding company's cricket franchise (Sunrisers Hyderabad) for season 2022 of Rs 243.03 crore and corresponding costs of Rs 151.52 crore, it added.

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

It owns Sunrisers Hyderabad Cricket Franchise of the Indian Premier League (IPL) and Sunrisers Eastern Cape of Cricket South Africa's T20 League and OTT platform Sun NXT.

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