India’s television broadcaster, Sun TV Network, which has a diverse portfolio of satellite channels in seven languages Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi, and Hindi has released its earnings report for the quarter and financial year ending June 30, 2024.
For the June quarter, Sun TV Network reported a six percent decline in standalone net profit compared to the same period last year. The profit decreased from INR 582 crore in Q1 of the previous financial year to INR 547 crore this year.
Additionally, quarterly revenues fell by three percent, reaching INR 1,276 crore, down from INR 1,318 crore in the corresponding quarter of last year.
Furthermore, for Q1 FY25 Sun TV Network’s advertisement revenue stood at INR 324 crore, slightly down from INR 339 crore in the same quarter last year. Domestic subscription revenue also saw a dip, coming in at INR 426 crore compared to INR 435 crore previously and EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter was reported at INR 706 crore, a decline from INR 786 crore in the corresponding period of 2023.
Sun TV Network’s profit after tax dropped by five percent year-over-year, decreasing from INR 592 crore to INR 560 crore on a consolidated basis. Notably, the board of directors announced an interim dividend of INR 5 per share, based on a face value of INR 5 per share.