Sun TV third quarter of 2017 numbers up

BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the quarter ended 30 December 2016 (Q3-17, current quarter) as compared to the corresponding year ago quarter (Q3-16). The board of directors have declared an interim dividend of Rs 5 per equity share of Rs 5 each (100 percent) for the financial year 2016-17.

Sun TV reported 2.8 percent higher year-over-year (y-o-y) revenue in the current quarter at Rs 589.43 crore as compared to Rs 573.24 crore in Q3-16.

Revenue growth in Q3-17 was led by a 16.8 percent y-o-y increase in subscription revenue at Rs 241.94 crore from Rs 207.16 crore.

The company’s Profit after tax or PAT in Q3-17 improved 11 percent y-o-y to Rs 240.09 crore (40.7 percent margin) as compared to Rs 216.33 crore (37.7 percent margin) in Q3-16.

Sun TV EBIDTA in the current quarter was Rs 439.73 crore (74.6 percent EBIDTA margin), almost flat (0.6 percent higher) as compared to Rs 437.29 crore (76.3 percent EBIDTA margin) in Q3-16.

Total Expenditure (TE) in the current quarter decreased 3.8 percent y-o-y to Rs 260.39 crore (44.2 percent of TIO) as compared to Rs 270.70 crore (47.2 percent of TIO) in the corresponding quarter of the previous year.

Employee Remuneration and Benefits Expense (EBE) in Q3-17 increased 1.3 percent y-o-y to Rs 59.86 crore (10.2 percent of TIO) as compared to Rs 59.21 crore (10.3 percent of TIO) in Q3-16.

Other expenses (OE) in the Q3-17 was 2.6 percent lower at Rs 36.06 crore (6.1 percent of TIO) as compared to Rs 37.04 crore (6.5 percent of TIO) in the corresponding quarter of the previous year.

IPL Franchisee Sun Risers Hyderabad

Sun TV has paid franchisee fees for its IPL team SunRisers Hyderabad (SRH) of Rs 85.48 crore in Q1-17 as compared to Rs 85.05 crore in the first quarter of FY-16.

The results of the nine month period ended 31 December 2016 (9M-17) include IPL revenue of Rs 143.90 crore as compared to Rs 96.96 crore in 9M-16 and costs of Rs 175.11 crore and Rs 153.21 crore for 9M-17 and 9M-16 respectively.

Note: The unit of currency in this report is the Indian rupee - Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

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