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Sun TV reports PAT of Rs 169.16 crore for Q2-2014; encores interim dividend

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BENGALURU: A media conglomerate with one of the largest Indian television networks, Sun TV Network Limited (Sun TV) reported a PAT of Rs 169.16 crore, up 11.5 per cent as compared to the PAT of Rs 151.65 crore for the corresponding quarter of last year (Q2-2013) and 2.9 per cent higher than the Rs 164.44 crore for the immediate preceding quarter, Q1-2014.

Last quarter (Q1-2014), the board of directors of the company had declared an interim dividend of Rs 2.25 per share (45 per cent). This quarter the board has declared interim dividend of Rs 2.50 (50 per cent) per share of Rs 5 each.

Let us look at the other Q2-2014 figures reported by Sun TV

The company reported Rs 466.41 crore as income from operations for Q2-2014 up 7.6 per cent as compared to the Rs 433.34 crore for Q2-2013, and lower by 22.5 per cent as compared to the Rs 601.85 crore for Q1-2014. It must however be noted that Rs 98.54 crore revenue came from the company’s IPL franchisee Hyderabad Sunrisers in Q1-2013 as compared to the Rs 5.43 crore for Q2-2014.

Sun TV reported a total turnover of Rs 504.21 crore for Q2-2013, up 13.8 per cent as compared to the Rs 44.95 crore for Q2-2013. The company had reported total turnover of Rs 615.24 crore including IPL Franchisee turnover for Q1-2014.

Sun TV reported total expense of Rs 246.29 crore (NIL IPL franchisee fee) for Q2-2014, 12.9 per cent higher than the Rs 218.17 crore for Q2-2013, but 32.6 per cent lower than the Rs 365.59 crore (this includes IPL franchisee fee of Rs 85.05 crore) for Q1-2014. The expense of Rs 246.29 crore includes expense of Rs 8.51 crore of its Sunrisers Hyderabad IPL team.

Of the major expense heads, Sun TV has reported Rs 48.27 crore as employee benefit expense for Q2-2014, as compared to the Rs 42.89 crore for the corresponding quarter last year and the Rs 44.21 crore for Q1-2014. Other expenditure at Rs 36.51 crore was almost a third more (32 per cent more) than the Rs 27.66 crore for Q2-2013 and less than half (49.4 per cent of) the Rs 73.94 crore for Q1-2014.

The company has not reported the breakup of its revenue and expense as has been its norm in the past.

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