Sun TV puts up a good show in Q1 FY 23-24

Sun TV puts up a good show in Q1 FY 23-24

Its ad revenue is down, while sub revenue is up.


Mumbai: Amongst all the broadcast companies, one can’t really fault the Kalanathi Maran-owned Sun TV network. The company is doing well – in fact phenomenally well - as compared to the other players in the same space. Take a look at its performance during the first quarter ended 30 June 2023. For one, it has rewarded shareholders with an interim dividend of Rs 6.25 per Rs 5 share (125 per cent dividend). Then its profit after taxes rose 18.53 per cent to Rs 5828 million as against Rs 4916.8 million in the corresponding quarter ended 30 June 2022.

Its EBITDA too is up 2.96 per cent to RS 7864.6 million as against 7638.3 million the year earlier.

This at a time when its ad revenues dropped to  Rs 3391 million in the latest quarter as against Rs  3431.7 million in the 2022 quarter.  The drop was offset by a 6.02 per cent increase in subscriptions to Rs 4353.4 million from Rs  4106.1 million. Top line too was in good humour as it rose 10.38 per cent to Rs 13,177.8 million as against RS 11,939 million in the previous corresponding period.