Sun TV profit falls 5.4% to Rs 560 crore in Q1 revenue dips to Rs 1312 crore

Sun TV Networks Ltd on Friday reported a decline of 5.48 per cent in its consolidated profit after tax at Rs 559.58 crore in the first quarter ended June 2024.

The company had reported a PAT (profit after tax) of Rs 592.08 crore in the April-June period a year ago, according to a BSE filing from Sun TV Network, one of the largest broadcasters.

Its revenue from operations was down 2.72 per cent to Rs 1,312.40 crore during the quarter under review. It was at Rs 1,349.22 crore in the year-ago period.
Sun TV Networks' total expenses increased 10 per cent to Rs 709.12 crore in the June quarter of FY25.

The total income of Sun TV Networks in the June quarter was marginally down to Rs 1,459.20 crore.

The board of the company at its meeting held on Friday declared an interim dividend of Rs 5 per share.

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 and SunRisers Eastern Cape of Cricket South Africa's T20 League.

"The results for the quarter ended June 30, 2024 includes income from the holding company's cricket franchises ("Sunrisers Hyderabad" and "Sunrisers Eastern Cape") of Rs 497.05 crore and corresponding costs of Rs 236.42 crore," it said.

Shares of Sun TV Networks Ltd on Friday settled at Rs 914.45 on BSE, up 3.28 per cent from the previous close.