Sun TV posts mid-singledigit ad rev growth, Q3net up 15% at Rs 2.14 bn

[Sajee]

MUMBA: Kalanithi Maran-promoted Sun TV
Network has reported higher subscription
revenue growth in the fiscal third quarter
while costs are under control. Advertising
revenue continues to grow under single
digit, posing a concern.

Sun TV Network’s net profit grew 15.25 per
cent to Rs 214.3 crore (Rs 2.14 billion) in
the quarter ended 31 December 2014,
compared to Rs 185.79 crore (Rs 1.86
billion) a year ago.

EBITDA for the quarter registered an
increase of 15.07 per cent at Rs 428.07
crore (Rs 4.28 billion), from Rs 372.02 crore
(Rs 3.72 billion) in the earlier year.

Total revenue grew nine per cent to Rs
552.44 crore (Rs 5.52 billion), compared to
Rs 508.34 crore (Rs 5.08 billion). Expenses
saw a minor 2.96 per cent jump to Rs 249.78
crore (Rs 2.5 billion) vis-a-vis Rs 242.38
crore (Rs 2.42 billion).

Advertisement revenue for the quarter grew
seven per cent to Rs 291.57 crore (Rs 2.92
billion). Subscription revenue from direct-
to-home (DTH) platform saw an 18 per cent
spike at Rs 132.88 crore (Rs 1.33 billion).

Total revenue for the nine-month period
ended 31 December stood at Rs 1695.04
crore (Rs 16.95 billion), compared to 1576.6
crore (Rs 15.76 billion) a year ago. Expenses
for the period jumped to Rs 952.85 crore, as
against Rs 854.26 crore (Rs 8.55 billion).

Net profit for the nine-month period
increased to Rs 534.24 crore (Rs 5.34
billion) from Rs 519.39 crore (Rs 5.19
billion) during the same period in the
previous fiscal.

IPL franchise

The results for the nine-month period ended
31 December 2014 include income from
Indian Premier League (IPL) franchise Sun
Risers Hyderabad. Revenue from the IPL
franchise stood at Rs 114.04 crore (Rs1.14
billion) while the company incurred costs of
Rs 158.53 crore (Rs 1.54 billion).

In the previous fiscal nine month-period,
the revenue and costs from the IPL
franchise stood at Rs 105.09 crore (Rs 1.05
billion) and Rs 141.47 crore (Rs 1.41 billion)
respectively.

Dividend

Meanwhile, the company has declared a
third interim dividend of Rs.6.75 per share
(135 %) on a face value of Rs 5 per share.
With this, the total dividend for FY15 is Rs
11.25 per share (225 %) as against the total
dividend of Rs 9.50 per share (190%)
declared in the previous fiscal.

Sun TV posts mid-single digit ad rev growth, Q3 net up 15% at Rs 2.14 bn | TelevisionPost.com