Sun TV Networks Ltd saw a 20% decline in profit to ₹363.26 crore in the December 2024 quarter, amid reduced revenue and higher expenses, despite an interim dividend announcement.
Sun TV Networks Ltd, one of India’s leading broadcasters, announced a 20% decline in its consolidated profit after tax (PAT) for the third quarter ended December 2024. The company reported a PAT of ₹363.26 crore, compared to ₹454.09 crore in the same period last year.
The decline in profit came amid a 10.35% drop in its revenue from operations, which fell to ₹827.56 crore in the December quarter, down from ₹923.15 crore in the year-ago period. Additionally, Sun TV’s total expenses increased by 10.86%, reaching ₹500.01 crore during this period. The total income also saw a decline of 8.6%, amounting to ₹967.56 crore.
Despite the profit and revenue decline, Sun TV Networks declared an interim dividend of 50%, which translates to ₹2.50 per equity share of ₹5 each for the financial year 2024-25.
Sun TV Networks operates a variety of media platforms, including satellite television channels in seven Indian languages—Tamil, Telugu, Kannada, Malayalam, Bangla, Hindi, and Marathi. The company also runs FM radio stations across India. Furthermore, Sun TV owns the SunRisers Hyderabad Cricket Franchise in the Indian Premier League (IPL) and the SunRisers Eastern Cape team in Cricket South Africa’s T20 League.
In its filings, Sun TV disclosed that its cricket franchises, Sunrisers Hyderabad and Sunrisers Eastern Cape, contributed ₹8.98 crore and ₹522.66 crore in income, respectively, during the quarter. Corresponding costs for the franchises stood at ₹1.09 crore and ₹238.85 crore.
The market responded to the results, with shares of Sun TV Networks Ltd settling 1.42% lower at ₹629.65 per share on the Bombay Stock Exchange (BSE).
