Sun TV posts sunny y-o-y results for Q2-2015; board announces 45 per cent interim dividend

BENGALURU: Sun TV Network Limited (Sun TV) reported 9.1 per cent growth in revenue in Q2-2015 at Rs 509.02 crore versus Rs 466.41 crore in the corresponding quarter of last year on the back of growth of advertising and DTH revenues. Q-o-q performance as well as PAT results declared by the company were however lower in Q2-2015.


The company reported 7 per cent growth in HY-2015 revenue at Rs 1142.60 crore from Rs 1068.26 crore in HY-2014.


Sun TV reported 11.4 per cent growth in advertising revenue in Q2-2015 to Rs 260.26 crore and 20 per cent higher DTH revenue at Rs 130.07 crore. However, advertising revenue in Q1-2014 at Rs. 280.42 crore was 7.8 per cent more than the advertising revenue in the current quarter.


The company’s net profit after taxes (PAT) in Q2-2015 at Rs 154.47 crore was 6.9 per cent lower than the Rs 169.16 crore in Q2-2014 and 6.7 per cent lower than the Rs 165.64 crore in Q1-2015. PAT in HY-2015 at Rs 320.11 crore was 4 per cent lower that the Rs 333.60 crore in HY-2014.


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


Let us look at the other results reported by Sun TV for Q2-2015


Y-o-y and HY results have been mentioned above. Sun TV’s revenue for Q2-2015 was 7 per cent less than the Rs 633.58 crore in Q1-2015.


The company’s total expense in Q2-2015 at Rs 298.22 crore was 21.1 per cent more than the Rs 246.29 crore in Q2-2014, and 6.7 per cent less than the Rs 319.80 crore (expenses figure excludes the one time annual SunRisers Hyderabad IPL franchise fee of Rs 85.05 crore paid in Q1-2015) in Q1-2015. Total Expense in HY-2015 was 14.9 per cent more at Rs 703.07 crore than the Rs 611.88 crore in HY-2014.


Sun TV’s depreciation and amortisation charges in Q2-2015 have jumped 57.4 per cent to Rs 185.01 crore from Rs 117.56 crore in Q2-2014 and were 33.1 per cent higher than the Rs 138.99 crore in Q1-2015. For HY-2015, depreciation and amortisation charges were 37.9 per cent higher at Rs 324 crore as against Rs 234.95 crore in HY-2014.


Employee benefit expense in Q2-2015 was up 4.3 per cent at Rs 50.13 crore from Rs 48.27 crore in Q2-2014 and was 9.5 per cent more than the Rs 45.77 crore in Q1-2015. For HY-2015 EBE at Rs 95.90 crore was 3.7 per cent less than the Rs 92.48 crore in HY-2014


The company has reported a 38 per cent drop in other expenditure to Rs 22.65 crore in Q2-2015 from Rs 36.51 crore in Q2-2014 and was less than a fourth (1/4.11 times) the Rs 93.18 crore in Q1-2015. For HY-2015, other expenditure at Rs 115.83 crore was 4.9 per cent higher than the Rs 110.45 crore in Q1-2014.


The board of directors of the company have declared an interim dividend of 45 per cent (Rs 2.25) per share of face value of Rs 5.

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