Q2-2016: Sun TV YoY revenue up 11.6%, PAT up 41.4%

BENGALURU: Sun TV Network Limited (Sun TV) reported 11.6 per cent growth in standalone revenue (Total income from operations or TIO) in Q2-2016 (quarter ended 30 September, 2015, current quarter) at Rs 568.09 crore as compared to Rs 509.02 crore in Q2-2015, but 17.8 per cent less than the Rs 691.09 crore in Q2-2016.


The company reported 41.4 per cent higher profit after tax (PAT) in the current quarter at Rs 213.38 crore (38.4 per cent margin) as compared to the Rs 154.47 crore (30.3 per cent margin) and10.7 per cent more than the Rs 197.28 crore (28.5 per cent margin) in Q1-2016.


Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore

All figures in this report are standalone.


The company in its earnings release says that subscription revenues grew 10 per cent in the current quarter to Rs 197.42 crore as compared to the Rs 179.48 crore in the corresponding year ago quarter. Advertisement revenue in Q2-2016 increased 15.8 per cent to Rs301.37 crore as compared to Rs 260.26 crore in Q2-2016, but declined seven per cent from Rs 323.89 crore in the immediate trailing quarter.


The board of directors of the company have decided not to declare any dividend for Q2-2016.


Let’s look at the other numbers reported by Sun TV


Sun TV’s total expenses (TE) in the current quarter at Rs 253.44 crore (44.6 per cent of TIO) was 15 per cent lower YoY than Rs 298.22 crore (58.6 per cent of TIO) and 38.5 per cent lower QoQ as compared to Rs 412.10 crore (59.6 per cent of TIO). The company’s TE in Q1 included IPL franchisee of Rs 85.05 crore (12.3 per cent of TIO), which is a non-recurring item during the other three quarters of the year.


Sun TV’s ‘Other Expenditure’ (OE) is a major expense head that has declined QoQ by a huge margin. OE in Q2-2016 at Rs 31.31 crore (5.5 per cent of TIO) was 38.2 per cent more than the Rs 22.65 crore (4.4 per cent of TIO) in Q2-2015 and almost a third of the Rs 91.65 crore (13.3 per cent of TIO) in Q1-2016.


Sun TV’s Employee Benefit Expense (EBE) in Q2-2016 increased 13.5 per cent to Rs 56.92 crore (10 per cent of TIO) as compared to the Rs 50.13 crore (9.8 per cent of TIO) in Q2-2015 and 4.4 per cent more than the Rs 54.51 crore (7.9 per cent of TIO) in the immediate trailing quarter.

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