Sun TV Network reports strong growth in Q4 and FY 2024 earnings

Sun TV Network reports strong growth in Q4 and FY 2024 earnings

Revenues for the year ended 31 March 2024 up 13.30 per cent at Rs. 4,148.36 crs.

Sun TV Network

Mumbai: Sun TV Network Ltd, one of the largest television broadcasters in India, operates satellite television channels across seven languages of Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi and Hindi, 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 31 March 2024, the total income was up 18.22 per cent at Rs.1,057.24 crs for the quarter ended 31 March 2024 as against Rs 894.33 crs for the corresponding quarter ended 31st March 2023 and the revenues were up 13.96 per cent at Rs. 927.12 crores as against Rs. 813.53 crores for the quarter ended 31st March 2023. The Profit Before Tax went up by 8.66 per cent at Rs.534.31 crs for the current quarter as against Rs.491.72 crs during the previous quarter ended 31st March 2023 and the Profit after Taxes for the quarter ended 31st March 2024 was up by 9.01 per cent to Rs.398.77 crores as against Rs 365.82 crores for the corresponding quarter ended 31st March 2023. The Earnings Per Share for the current quarter was higher by 9.01 per cent to Rs.10.11 as against Rs.9.28 for the corresponding quarter ended 31st March 2023.

For the quarter ended 31 March 2024, the standalone revenues for the year was higher by 13.30 per cent at Rs.4,148.36 crores as against Rs.3,661.37 crores for the corresponding year ended 31st March, 2023. The Domestic Subscription revenues for the year was at Rs.1,710.44 crores, as against Rs.1,619.71 crores for the previous year ended 31st March, 2023. EBITDA for the year ended 31st March 2024 was up 10.05 per cent at Rs.2,585.30 crores as against Rs.2,349.29 crores for the previous year ended 31st March 2023. The Profit after taxes rose by 11.98 per cent to Rs.1,875.15 crores for the year ended 31st March, 2024 as against Rs. 1,674.53 crores for the previous year ended 31st March, 2023. During the year, the Board of Directors declared four interim dividends cumulating to 335 per cent, i.e. Rs.16.75 per share.

For the quarter ended 31 March 2024, the Consolidated Revenues was up 13.52 per cent at Rs.4,282.10 crores as against Rs. 3,772.05 crores for the corresponding year ended 31st March 2023. EBITDA for the year ended 31st March 2024 was higher by 10.24 per cent at Rs. 2,638.10 crores as against Rs.2,392.99 crores for the previous year ended 31st March 2023. The Profit after taxes (after accounting of share from joint venture) also remained higher by 12.82 per cent at Rs.1,925.80 crores for the year ended 31st March,2024 as against Rs. 1,706.92 crores for the previous year ended 31 March, 2023.