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Sun TV reports improved Q1-18 numbers, declares 50% interim dividend

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BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the quarter ended 30 June 2017 (Q1-18, current quarter) as compared to the corresponding quarter of the previous year (y-o-y, Q1-17). Sun TV reported 5.2 per cent higher consolidated total income in the current quarter at Rs 8,233.8 million as compared to Rs 7,823.8 million in q1-17. Operating revenue increased 3.4 per cent to Rs 7,863.2 million in Q1`-18 from Rs 7,608.3 million in Q1-17. The board of directors of Sun TV has declared an interim dividend of Rs 2.50 per equity share of face value of Rs 5 each (50 per cent).

The company says in its earnings release that subscription revenue at Rs 2,705 million was up 15.3 per cent in Q1-18 as against Rs 2,346.8 million in the corresponding quarter of the previous year.

The company’s profit after tax or PAT in Q1-18 improved 8 per cent to Rs 2,516.4 million (32 per cent of Operating Revenue) as compared to Rs 2,330.6 million (29.8 per cent of Operating Revenue) in Q1-17.

Sun TV EBIDTA in the current quarter was Rs 4,483.6 million (57 percent of Operating Revenue), 2.7 percent higher as compared to Rs 4,369.9 million (57.4 percent of Operating revenue) in Q1-17.

Total Expenditure (TE) in the current quarter increased 3.8 per cent to Rs 4,415 million (56.1 per cent of Operating Revenue) as compared to Rs 4,253 million (54.4 per cent of Operating Revenue) in the corresponding quarter of the previous year.

Operating expense in Q1-18 increased 37.6 per cent to Rs 683.1 million (8.7 per cent of Operating Revenue) from Rs 496.6 million (6.3 per cent of Operating Revenue) in the corresponding quarter of the previous year.

Employee Benefits Expense in Q1-18 increased 13.5 per cent to Rs 684.2 million (8.7 per cent of Operating Revenue) as compared to Rs 603 million (7.7 per cent of Operating revenue) in Q1-17.

Other expenses (OE) in the Q1-18 decreased 10.3 per cent to Rs 1,157.5 million (14.7 percent of Operating Revenue) as compared to Rs 1,290 million (16.5 per cent of Operating Revenue) in the corresponding quarter of the previous year.

IPL Franchisee

Sun TV has paid franchisee fees for its IPL team Sun Risers Hyderabad (SRH) of Rs 85.48 million in Q1-18 same as in the first quarter of FY-17. The company says that its IPL Franchisee had revenue of Rs 1,431 million in Q1-18, down 0.7 per cent as compared to Rs 1,440.4 million in Q1-17. IPL Franchisee costs in Q1-18 were down 5.9 per cent to Rs 1,655 million as compared to Rs 1,758.4 million in Q1-17.

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