Sun TV Networks Faces 20% Profit Decline Amid Mixed Financial Signals

Sun TV Networks Ltd reported a 20% drop in profit for the December 2024 quarter. Revenue fell over 10%, while total expenses increased. An interim dividend was declared, amid gains from cricket franchises and operation across multiple languages. Shares settled 1.42% lower.

Sun TV Networks Ltd, one of India's largest broadcasters, reported a significant decline in profit for the third quarter of the fiscal year 2024-25. The company's consolidated profit after tax fell by 20% to Rs 363.26 crore, compared to Rs 454.09 crore in the same period last year, as per a BSE filing.

The broadcaster also recorded a revenue dip of 10.35%, posting Rs 827.56 crore for the December quarter, in contrast to Rs 923.15 crore a year earlier. However, total expenses saw a notable increase, up by 10.86% to Rs 500.01 crore.

Amid these results, Sun TV declared an interim dividend of 50%, equating to Rs 2.50 per share. The network, which also owns SunRisers Hyderabad and SunRisers Eastern Cape cricket franchises, detailed earnings from these ventures as well. The company's shares closed 1.42% lower on the BSE at Rs 629.65 apiece.

(With inputs from agencies.)