Sun TV Networks Ltd PAT falls 7.25% to Rs 380.4 cr in March quarter

South India-based broadcaster Sun TV Networks Ltd on Friday reported a 7.25 per cent drop in its consolidated profit after tax (PAT) at Rs 380.40 crore for the March 2023 quarter.

Sun TV Network said in its BSE filing that the company reported PAT of Rs 410.17 crore in January-March last year.

Its revenue from operations was Rs.840.36 crore, down by 1.92% during the period. It was Rs. 856.85 crore in the period last year.

Sun TV Networks’ total expenses in the fourth quarter were Rs. 427.75 crore as against Rs. 367.09 crore in the fourth quarter of FY22.

Its total income during the March quarter was Rs.926.20 crore.

“The results for the quarter and year ended 31st March 2023 include income from the holding company’s cricket franchises (SunRisers Hyderabad and SunRisers Eastern Cape) for the 2023 season of Rs 36.96 crore and Rs 287.27 crore respectively,” said Sun TV.

Sun TV Network operates satellite TV channels across six languages ​​Tamil, Telugu, Kannada, Malayalam, Bengali and Marathi and broadcasts FM radio stations across India.

It also owns the SunRisers Hyderabad Cricket franchise of the Indian Premier League, the SunRisers Eastern Cape of Cricket South Africa’s T20 League and the Sun NXT digital OTT platform.

For the financial year ending March 2023, Sun TV Networks net profit increased by 3.95% to Rs.1,706.92 crore. It declared a net profit of Rs. 1,641.91 crore in the period last year.

Its consolidated revenue from operations was Rs. 3,772.05 crore in FY23, up by 5.22% over the previous financial year.

Shares of Sun TV Networks Ltd on Friday settled down 0.11 percent at 425.90 rupees per share in BSE.

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