Sun TV Network Q3 profit increases by 7% to Rs 385 cr
New Delhi: On Friday, South-based TV broadcaster Sun TV Network Ltd. posted a 7.15% surge. So then, this came about in its consolidated profit after tax for the Dec quarter at Rs 384.69 crores.
Also, it had posted a profit after tax of Rs 359.01 crores in the Oct-Dec period a year ago. However, its total income dropped by 7.89% to Rs 914.17 crores during the quarter under review. Besides, this stood against Rs 992.58 crores in the corresponding period of the previous fiscal.
Despite this, the subscription revenues for the quarter had increased by 18% at Rs 411.85 crores. So then, this stood against Rs 349.60 crores for the corresponding quarter ended Dec 2018.
Moreover, the results also include revenue from SunRisers Hyderabad, a cricket franchise of the Indian Premier League (IPL).
Hence, the results for the nine-month ended Dec 31, 2019, includes from the Company’s IPL franchise for 2019 season. So then, it earned around Rs 244.44 crores and corresponding costs of Rs 138.46 crores.
However, the total expenses stood at Rs 404.35 crores as against Rs 441.86 crores earlier. Also, it stood down by 8.48%.
Besides, Sun TV Network manages satellite TV channels across four languages. Namely, Tamil, Telugu, Kannada, and Malayalam. Also, it owns FM radio stations pan-India.
Despite this, on Friday, shares of Sun TV Network Ltd. stood at Rs 496.45 on the Bombay Stock Exchange. It stood down by 0.56% from its previous close.