Sun TV Network reports a 9% drop in net profit for Q3FY23

The consolidated income for the quarter was ₹985 crore, down 11% YoY and standalone revenue from operations stood at ₹858 crores, down 17% YoY.

By Abhinav Kumar

February 4, 2023 at 4:21 pm

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Television broadcaster Sun TV Network Limited has released its Q3 earnings for the period ending December 31, 2022. The company reported a 9% drop in consolidated net profit, which was ₹425 crore, compared to ₹471 crores in the same quarter of the previous fiscal.

The consolidated income for the quarter was ₹985 crore, down 11% YoY. The standalone net profit was ₹416 crore, compared to ₹457 crores in the previous year. Standalone revenue from operations stood at ₹858 crores, down 17% YoY, with advertisement revenue at ₹380 crore.

The EBITDA was ₹573.07 crore, compared to ₹721.87 crore in the previous quarter. The profit before taxes was ₹556.91 crore, compared to ₹609.80 crore in the previous year. The profit after taxes (excluding IPL & Movies) was ₹409.82 crore, down from ₹416.00 crores in the corresponding quarter of the previous year.

Overall, Sun TV Network’s financial performance for the quarter ending December 31, 2022, showed a decline in both consolidated and standalone net profit, as well as a decrease in revenue from operations and advertisement revenues. However, the company’s EBITDA and profit before taxes remained relatively stable.

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Abhinav Kumar

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Abhinav is the Editor-in-Chief at DreamDTH with over 5 years of experience in covering industry developments. He is passionate about staying appraised of the latest developments in the industry and bringing forth their shortcomings. Specializing in DTH, television, broadcasting, and the entertainment sector, Abhinav is dedicated to exploring the happenings in these dynamic fields. Outside of work, he indulges in podcasts and audiobooks and enjoys unwinding with light-hearted, sci-fi, and thriller shows.