Sun TV Networks report 9.08% spike in consolidated profit for March quarter

Delhi: Sun TV Networks on Friday, reported a 9.08% increase in consolidated profit after tax (PAT) to Rs 414.94 crore for the March quarter.

The company had reported a PAT of Rs 380.40 crore in the January-March period a year ago, according to a BSE filing from Sun TV Network.

Its revenue from operations was up 14.4% to Rs 961.28 crore during the quarter under review from Rs 840.36 crore in the year-ago period.

Sun TV Networks' total expenses were at Rs 548.34 crore, up 29% year-on-year, while the total income was 18.63% higher at Rs 1,098.72 crore.

For the financial year ended on March 31, 2024 Sun TV Networks consolidated PAT was up 12.82% to Rs 1,925.80 crore. It was at Rs 1,706.92 crore a year ago.

Its revenue from operations in FY24 was up 13.52 per cent to Rs 4,282.10 crore.

Sun TV Network operates satellite television channels across six languages -- 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.

"The results for the quarter and year ended March 31, 2024 includes income from the Holding Company's Cricket Franchises ("Sunrisers Hyderabad" and "Sunrisers Eastern Cape") of Rs 136.37 crore and Rs 659.03 crore, respectively (quarter and year ended March 31, 2023 -- Rs 36.96 crore and Rs 287.27 crores, respectively)," it said.

Shares of Sun TV Networks on Friday settled at Rs 665.50 on the BSE, down 0.31% from the previous close.