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Sun TV revenue up 10% to Rs 760.83 crore with IPL franchise chipping in

suntv

Broadcaster Sun TV has reported revenues of Rs 760.83 crore for the quarter ended June 2016, up 10% from Rs 689.45 crore in the same quarter last year. Sequentially, the company’s revenues grew 33.31% from Rs 570.68 crore.

Subscription revenues were up 22% year-on-year to Rs 232.13 crore. DTH subscription revenue increased 16% over the same quarter last year while cable TV revenues grew 37% from the same quarter last year. Sun TV has not provided absolute figures for cable TV and DTH subscription.

It also hasn’t segmented out revenues from advertising this quarter. Sun TV’s advertising revenue went up 2% year-on-year to Rs 298.35 crore in Q3 FY16.

EBITDA was up by 7% at Rs 436.43 crore as compared to Rs 406.93 crore in the same quarter last year. The profits after tax for the quarter was up by 19% at Rs 233.06 crore, as against Rs 195.82 crore for the corresponding quarter last year.

Income from IPL franchise

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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.

This quarter, income from the IPL franchise stood at Rs 144.04 crore an increase of 49.19% from Rs 96.55 crore in the same quarter last year. Expenses for the franchise stood at Rs 175.84 crore which increased 14.8% in the same quarter last year.

Investment in radio

Sun TV revealed that its total investment in its radio operations was Rs 620.2 crore. During the quarter, the Delhi High Court and the Supreme Court upheld that the Ministry of Information and Broadcasting should give the Grant of Permission Agreement to Sun TV to migrate to the Phase III licensing regime.

Digital deals

In June, Hungama tied up with Television networks Sun TV and Maa TV to add Telugu content and focus on the South Indian market. The same month, video streaming platform HOOQ had signed a multi-year deal with Sun TV, to carry Sun TV’s library that includes a mix of films in Tamil, Telugu, Malayalam and Kannada.

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