Sun TV Network Limited, one of the largest television broadcasters in India, operates satellite television channels across six languages: Tamil, Telugu, Kannada, Malayalam, Bangla, and Marathi. It also airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League, SunRisers Eastern Cape of Cricket South Africa’s T20 League, and the digital OTT platform Sun NXT.
For the quarter ended 31st December 2023, the total income was up 6.63% at Rs. 1,014.81 crores compared to Rs. 951.71 crores for the corresponding quarter ended 31st December 2022. Revenues were up 3.26% at Rs. 885.48 crores, compared to Rs. 857.51 crores for the quarter ended 31st December 2022.
The Profit Before Tax increased by 6.18% to Rs. 591.31 crores for the current quarter, compared to Rs. 556.91 crores during the previous quarter ended 31st December 2022. The Profit after Taxes for the quarter ended 31st December 2023 rose by 5.05% to Rs. 437.34 crores, compared to Rs. 416.32 crores for the corresponding quarter ended 31st December 2022.
The Earnings Per Share for the current quarter rose by 5.05% to Rs. 11.10, compared to Rs. 10.56 for the corresponding quarter ended 31st December 2022.
Highlights for the nine months ended 31stDecember’23
- Total Income up ~14.19 % at ~Rs. 3,572.95 crs for the nine months ended 31st Dec’ 2023.
- Revenues up ~13.11 % at ~Rs. 3,221.24 crs for the nine months ended 31st Dec’ 2023.
- EBITDA up ~11.55 % at ~Rs.2,076.72 crs;
- Profit after Taxes up ~12.81 % at ~Rs.1,476.38 crs;
Highlights for the quarter ended 31st December’23:
- Total Income up 6.63 % at ~Rs. 1,014.81 crs;
- Revenues up 3.26 % at ~Rs. 885.48 crs;
- Profit after Taxes up 5.05 % at ~Rs.437.34 crs;
- Interim Dividend of 50 % declared.
SUBSIDIARIES – AMALGAMATION: The Board of Directors of Kal Radio Limited (‘KRL’), at its meeting held on January 4, 2024, approved a proposed scheme of amalgamation of Udaya FM Private Limited with KRL.
Similarly, the Board of Directors of South Asia FM Limited (‘SAFL’) and its Joint Ventures/Associate Companies, at their respective meetings held on January 4, 2024, approved a proposed composite scheme of arrangement for amalgamation involving these Joint Venture/Associate Companies and SAFL (as applicable).
The respective schemes of amalgamation with the Appointed Date of 1st April 2023 are subject to necessary statutory and regulatory approvals, including sanction by the Hon’ble National Company Law Tribunal under Sections 230 and 232 of the Companies Act, 2013. Pending this approval, they have not been given effect to in these Unaudited Financial results.
INTERIM DIVIDEND: At the Board Meeting held today, the Board of Directors declared an Interim Dividend of Rs. 2.50 per share (50%) on a face value of Rs. 5.00 per share.