GECs
Sun TV announces Q4FY23 results
Mumbai: Sun TV Network Ltd., one of the Television Broadcaster in India, operates Satellite Television Channels across six languages of Tamil, Telugu, Kannada, Malayalam, Bangla and Marathi, airs FM radio stations across India and own 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 31 March 2023, the Revenues for the quarter were at Rs 813.53 crores as against Rs 833.01 crores for the corresponding quarter ended 31 March 2022. The Advertisement revenues for the quarter was at Rs 338.37 crores as against Rs 337.13 crores for the corresponding quarter ended 31 March 2022. The Subscription revenues for the quarter was at Rs 406.11 crores as against Rs 416.03 crores for the corresponding quarter ended 31 March, 2022. EBITDA for the quarter ended 31 March 2023 was at Rs.487.60 crores as against Rs 553.33 crores for the previous quarter ended 31 March 2022. The Profit after taxes for the current quarter stood at Rs 365.82 crores as against Rs 404.35 crores in the corresponding quarter ended 31 March 2022.
For the year ended 31 March 2023, the Standalone Revenues for the year was higher by ~4.46 per cent at Rs 3,661.37 crores as against Rs 3,504.88 crores for the corresponding year ended 31 March 2022. The Advertisement revenues for the year grew by ~7.95 per cent at Rs 1,403.96 crores as against Rs 1,300.60 crores for the previous year ended 31 March 2022.The Domestic Subscription revenues for the year was at Rs 1,619.71 crores, as against Rs 1,657.31 crores for the previous year ended 31 March 2022. EBITDA for the year ended 31 March 2023, was up ~3.78 per cent at Rs 2,349.28 crores as against Rs 2,263.78 crores for the previous year ended 31 March 2022. The Profit after taxes rose by ~1.81 per cent to Rs 1,674.53 crores for the year ended 31 March 2023 as against Rs 1,644.80 crores for the previous year ended 31 March 2022. During the year, the Board of Directors declared four interim dividends cumulating to 300 per cent, i.e Rs 15.00 per share.
For the year ended 31 March 2023, the Consolidated Revenues was up ~5.22 per cent at Rs 3,772.09 crores as against Rs 3,584.82 crores for the corresponding year ended 31 March 2022. EBITDA for the year ended 31st March 2023 was higher by ~4.61 per cent at Rs 2,392.99 crores as against Rs 2,287.49 crores for the previous year ended 31 March 2022. The Profit after taxes(after accounting of share from joint venture) also remained higher by ~3.96 per cent at Rs 1,706.92 crores for the year ended 31 March 2023, as against Rs 1,641.91 crores for the previous year ended 31 March 2022.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
