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.
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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