For the second quarter running, Sun TV Network Ltd continued to maintain an uptrend in subscription revenues. For the quarter ended June 30, 2014, cable TV revenues increased by 15%, and direct-to-home (DTH) subscription revenues increased by 21% over the corresponding quarter in 2013. In Q4-FY14, a 25% quarter-on-quarter increase in subscription revenue had been reported. However, Q1-FY15 was overall a disappointing quarter for Sun TV. Earnings from its broadcasting business in this quarter was Rs.520.17 crore, as against Rs.503.31 crore in the same quarter last year – an increase of 3%. But it was marginally below the Rs.520.18 crore reported in Q4-FY14 (quarter ended March 31, 2014). If the earnings from SunRisers Hyderabad, the IPL team Sun TV owns, are taken into account the revenue for Q1-FY15 stands at Rs.633.58 crore – an increase of 5% year-on-year. Net profits in Q1-FY15 stands at Rs.194.70 crore, which is below the Rs.197.57 crore net profits reported in the previous quarter. Financials EBITDA during Q1-FY15, including IPL revenue was Rs.367.72 crore and excluding IPL revenue was Rs.411.17 crore; 4% and 7% year-on-year increases respectively. EBITDA in the previous quarter was Rs.400.03 crore (excluding IPL revenue, since IPL is held once a year in April). Profit before Interest, Depreciation &Taxes (PBIDT), including IPL revenue and expenses was Rs.387.42 crore, up 6% year-on-year. Advertising revenue for Q1-FY15 was Rs.280.42 crore. Recent development In March 2014, Sun TV inked deals with YouTube and iTunes to offer content from its TV channels on these platforms on…
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