For the quarter ending September 30, 2024, Sun TV Network reported an 11.92% decrease in its consolidated Profit After Tax (PAT). The PAT for the period was Rs. 409.32 crore, down from Rs. 464.69 crore in the same quarter last year.
Furthermore, compared to Rs. 1,048.45 crore in the same period last year, Sun TV Network’s revenue from operations declined by 10.86% in the second quarter, amounting to Rs. 934.54 crore. The company’s total income also dropped by 4.66%, for the quarter ending September 30, 2024, reaching Rs. 1,106.10 crore down from Rs. 1,160.21 crore in the corresponding quarter of 2023.
Additionally, Sun TV Network reported a 3.26% rise in revenue (excluding Movies & Sports), for the quarter ending September 30, 2024, totaling Rs. 799.36 crore, up from Rs. 774.12 crore during the same period in 2023. Advertising revenues also increased by 2.13%, reaching Rs. 335.42 crore compared to Rs. 328.42 crore in Q2 FY23. However, EBITDA for the quarter decreased, standing at Rs. 528.98 crore, down from Rs. 716.21 crore in the corresponding quarter last year.
Notably, Sun TV Network operates a range of satellite television channels across four southern languages Tamil, Telugu, Kannada, and Malayalam and three northern languages Bangla, Marathi, and Hindi. The company also runs FM radio stations throughout India in addition to television. It also owns the SunRisers Hyderabad franchise in the Indian Premier League and SunRisers Eastern Cape in Cricket South Africa’s T20 league. Further expanding its media portfolio, Sun TV Network offers a digital streaming service, Sun NXT, catering to the growing demand for OTT content.
The company’s total expenses for the quarter increased by 9.7 percent, amounting to Rs. 593.54 crore, up from Rs. 541.06 crore in the same period last year. Operating expenses saw a notable rise of 29.19%, reaching Rs. 227.77 crore compared to Rs. 176.30 crore in Q2 FY24.
Sun TV Network announced to the Bombay Stock Exchange (BSE) that its Board of Directors has approved an interim dividend of Rs. 5.00 per share, representing 100% of the face value of Rs. 5.00 per share.