Sun TV Networks Sees Profit Decline, Declares Dividend Amid Strong Media Presence

Sun TV Networks reported an 11.9% drop in profit after tax to Rs 409.32 crore for the September quarter. Revenue fell by 10.86% while expenses rose by 9.7%. The board announced a 100% interim dividend. Sun TV also owns cricket franchises, contributing significant income and costs.

Sun TV Networks Ltd announced an 11.9% decrease in consolidated profit after tax, totaling Rs 409.32 crore for the September quarter, compared to Rs 464.69 crore a year prior.

Revenue from operations witnessed a 10.86% reduction to Rs 934.54 crore from Rs 1,048.45 crore the previous year, according to the recent BSE filing. Notably, expenses surged by 9.7% reaching Rs 593.54 crore, while total income was recorded at Rs 1,106.10 crore, marking a 4.66% decline.

Moreover, Sun TV declared a 100% interim dividend, equating to Rs 5 per share. The company, also owning cricket franchises SunRisers Hyderabad and SunRisers Eastern Cape, reported combined income and costs of Rs 497.14 crore and Rs 237.76 crore, respectively. Sun TV operates channels in seven languages and FM radio across India. On Wednesday, shares closed at Rs 725.05, a 0.68% drop.

(With inputs from agencies.)