Sun TV Network subscription revenues up by 28% in Q1 FY 19-20
New Delhi: Sun TV Network Limited on Friday announced its unaudited financial results for the quarter ending June 30, 2019.
Sun TV’s consolidated income operations increased to Rs 1,131.04 crores as compared to Rs 917.34 crores in the previous quarter. Total income stood at Rs 1,190.19 crores as compared to Rs 986.50 crores in the previous quarter.
Total expenses increased to Rs 603.10 crores as compared to Rs 545.98 crores in the previous quarter due to an increase in IPL franchise fees and operating expenses.
The company made a profit of Rs 386.61 crores after tax as compared to Rs 292.01 crores in the previous quarter. Earning per share stood at Rs 9.82 as compared to Rs 7.41 in the previous quarter.
Revenues excluding IPL stood at Rs 856.97 crores up by 16%. Subscription revenues stood at Rs 396.94 crores up by 28%.EBITDA for the quarter ended 30th June ’19 at Rs.682.91 crores. Advertisement revenues grew to Rs.368.15 crores for the quarter ended 30th June 2019.
At the time of going to press Sun TV Network Limited was trading at Rs 448.45 down by Rs 3.90 or 0.86% as against a previous close of Rs 452.35 on the BSE.
The Board of Directors also decided that Mr Nicholas Martin Paul, the present Chairman of the Risk Management Committee will function as Chairman of the Audit Committee and Mr J Ravindran, the present Audit Committee Chairman will function as Chairman of the Risk Management Committee. Mr Nicholas Martin Paul and Mr J. Ravindran continue as Members of the Audit Committee and Risk Management Committee.Mr. Maheshkumar, Managing Director of the Company has been appointed as Member of the CSR Committee in the place of Mrs Kavery Kalanithi, Member of CSR Committee.
Mr Kalanithi Maran, Chairman and Mrs Kavery Kalanithi, Executive Director had expressed their intention to voluntarily limit their remuneration (including salary and exgratia/bonus) for the Current Financial Year 2019 – 20 to a sum not exceeding the remuneration (including salary and exgratia/bonus) earned by them two years back in the Financial Year 2017 – 18 and have retained the said amount for the last Financial Year 2018 – 19 and Current Financial Year 2019 – 20 as well. The Remuneration Committee and the Board of Directors took the same on record.