Sun TV Network revenue at Rs 810.10 crore in Q1 FY22

The media conglomerate reported profit after tax of Rs 389.76 crore.

Mumbai: Sun TV Network Ltd, reported revenue growth of 34 per cent (including IPL) at Rs 810.10 crore for the quarter ending 30 June compared to the corresponding quarter last year. The media company reported 93 per cent growth in advertising revenues at Rs 243.66 crore and profit after tax of 389.76 crore up by 38 per cent. EBITDA for the quarter stood at 484.97 crore up by 19 per cent.

The company reported 23.5 million paid subscribers for its OTT platform Sun NXT at the end of the quarter, mostly driven by its telecom distribution partnerships.

Sun TV is one of the largest television broadcasters in India. It operates satellite television channels across five languages of Tamil, Telugu, Kannada, Malayalam and Bangla, airs FM radio stations across India, owns the SunRisers Hyderabad cricket franchise of the Indian Premier League and the digital OTT platform Sun NXT.

“The most important change that has happened in the current quarter ended 30 June is the change in the estimation of the useful life of our movies. As you know, we’ve been amortising it in full in the past. Now, beginning this year, we would amortise them over a useful life of four years, whereby 30 per cent reach will be written off in the first two years and 20 per cent reach in the last two years. As a result, our depreciation and amortisation chart are lower by Rs 70 crore. Though, it will have an effect for the first year, it will normalise over time. This is in line with the global best practice. Almost all the media companies which have huge investments in content and which content is used over foreseeable future, adopt time periods which are comparable to what we have implemented with an accelerated charge happening in the first half and a normal charge in the second half” Sun TV Network Ltd, managing director, R Maheshkumar said.

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