Sun TV Networks Faces Profit Dip Amid Rising Expenses and Cricket Franchise Income

Sun TV Networks Ltd reported a 10.4% decline in profit after tax for the March quarter, with total income rising 7.37%. The company attributed part of the results to its cricket franchises, Sunrisers Hyderabad and Sunrisers Eastern Cape, highlighting rising expenses despite a decrease in revenue.

Sun TV Networks Ltd has announced a significant decrease in consolidated profit after tax, reporting a 10.4% decline to Rs 371.77 crore for the March quarter. This compares to Rs 414.94 crore reported in the previous year, showcasing challenges faced amidst evolving market dynamics.

The company's revenue from operations took a hit, shrinking by 2.15% to Rs 940.59 crore, while total expenses soared by 15.23% to Rs 631.89 crore. Despite these setbacks, Sun TV Networks recorded a 7.37% increase in total income, aided in part by the cricket franchises it owns in India and South Africa.

As one of India's largest broadcasters, Sun TV operates across seven languages and offers FM radio services nationwide. However, its stock suffered a hit on the BSE, closing at Rs 629.05, down by 1.93%, reflecting investor concerns over future profitability.

(With inputs from agencies.)