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Sun TV revenues up 11.6% to Rs 568.9 cr for Q2 FY16

Sun TV Network Ltd’s revenues decreased 17.80% to Rs 568.09 crore for the quarter ended September 30, 2015 from Rs 691.09 crore in the last quarter. The revenues were up by 11.6% from Rs 509.02 crore in the corresponding quarter last year. For this quarter, Sun TV's advertising revenue went up 15.80% year-on-year to Rs 301.37  crore. On a sequential basis, the advertising revenues were down 6.95% from Rs 323.89. The Subscription revenue for the quarter was up by 9.99% at Rs.197.42 crores, as against Rs.179.48 crores for the corresponding quarter ended September, 2014. During the quarter, the EBITDA was up by 9.30% at Rs 432.23 crores as compared to Rs 395.47 crores in the same quarter last year. The profits after tax for the quarter was up by 41.37% at Rs.218.38 crores, as against Rs 154.47 crores for the corresponding quarter last year. 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. Other developments: - During the quarter, video streaming platform HOOQ expanded its library and signed a multi-year deal with Sun TV. According to the deal,  HOOQ will carry Sun TV’s library that includes a mix of films in Tamil, Telugu, Malayalam and Kannada. - In August, it was reported that Sun TV would be investing Rs 405 crore to acquire movie rights for satellite broadcasts. The…

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