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Sun TV revenues up 25.9% to Rs 691.09 cr for Q1 FY16

sun tv

Sun TV Network Ltd’s revenues increased  5.9% to Rs 691.09 crore for the quarter ended June 30, 2015 from Rs 548.58 crore in the last quarter. The revenues were up by 9.07% from Rs 633.58 crore in the corresponding quarter last year.

For this quarter, Sun TV claims that its advertising revenue went up 16% to Rs 323.89 crore for the quarter. The company did not disclose its DTH or advertisement segment revenues for the last quarter. The profit before taxes (PBT), excluding IPL was Rs 356.95 crore, while the PBT including IPL was Rs 300.34 crore.

sun tv chart

Revenues from total media and entertainment stood at Rs 691.09 crore for the quarter. Broadcasting generated Rs 594.54 crore, whereas SunRisers Hyderabad franchise generated Rs 96.55 crore. Its subscription revenues grew by 13% for cable TV and 9% for DTH over the same quarter last year.

sun tv chart2 (1)

Its EBITDA, including IPL revenue, grew by 11% at Rs 409.16 crore from Rs 367.57 crore in the same quarter last year. The company posted a net profit of Rs 197.28 crore this quarter, a decrease of 2.8% from Rs 202.99 crore last quarter. However, on a year-on-year basis net profit increased 19.1% from Rs 165.64 crore.

Other developments:

– Earlier this month, The Delhi High Court permitted Digital Radio Broadcasting, which runs Red FM, to participate in the main FM Phase III e-auction to be held today. The High Court had also let the agency participate in the mock e-auctions. Overall, the Ministry denied 5 companies of the Sun Group permission to participate in the auctions due to them being a part of the Maran group.

– In June, Sun TV Network Limited denied receiving any communication from either the Ministry of Home Affairs (MHA) or the Ministry of Information and Broadcasting (MIB), in regards to rejection of security clearance of its television channels. Apparently, MHA had denied security clearance to all 33 channels of the Chennai-based Sun TV Network due to ‘economic security’. This could in effect lead to the cancellation of its broadcasting license. One of the likely reason for this was the CBI probe against Sun Group founder and MD Kalanithi Maran and his brother Dayanidhi Maran in regards to the Aircel-Maxis 2G spectrum allocation case.

– Sun TV previously inked agreements to offer content from its television channel Sun TV on YouTube and iTunes globally on a pay-per-view basis in March last year. In addition to YouTube and iTunes, Sun TV has also tied-up with Mumbai-based Purple IFE Ltd to deploy its content as in-flight entertainment. In the past, Purple IFE has supplied regional content for in-flight entertainment to Emirates, Singapore Airlines, Air India, Ethihad, Jet Airways, Oman Air, British Airways, Cathay Pacific, Gulf Air and Qatar Airways.

– The network currently operates satellite television channels across four languages – Tamil, Telugu, Kannada, and Malayalam. It also operates FM radio stations across India, and owns the SunRisers Hyderabad franchise in the IPL which it had won for an amount of Rs 85.02 crore per year, in October 2012.

Download: Financials (pdf)

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