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Sun TV board declares third interim dividend of 50 percent

This is the third interim dividend disbursed by the company this fiscal.

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BENGALURU: The board of directors of the Sun TV Network (Sun TV) has declared a 50 percent dividend (dividend of Rs 2.50) per equity share of face value Rs 5 each for the quarter ended 31 December 2019 (Q3 2019, quarter, period under review). This is the third interim dividend disbursed by the company this fiscal.

The South Indian television and radio broadcaster behemoth reported total comprehensive income of Rs 351.39 crore (38.9 percent of operating revenue for the quarter, which was 31.6 percent y-o-y higher as compared to Rs 267.03 crore (39.1 percent of operating revenue) for the corresponding year ago quarter.

Sun TV reported 32.4 percent y-o-y increase in operating revenue for Q3 2019 at Rs 904.45 crore as compared to Rs 683.28 crore in Q3 2018. Total Income for the period under review at Rs 956.04 crore was 34.2 percent more y-o-y as compared to Rs 712.39 crore in Q3 2018. Sun TV says in a press release that its subscription revenue has grown by 24 percent y-o-y to Rs 349.60 crore.

Operating profit (EBITDA) for Q3 2019 at Rs 667.20 (73.8 percent of operating revenue) increased 35.6 percent y-o-y as compared to Rs 492.04 crore (72 percent of operating revenue) in Q3 2018. Profit after tax (PAT) for the quarter at Rs 351.33 crore (38.8 percent of operating revenue) was 31.6 percent higher y-o-y than Rs 266.97 crore (39.1 percent of operating revenue).

Sun TV reported 35.4 percent y-o-y increase in total expenditure in Q3 2019 at Rs 414.04 crore from Rs 305.76 crore in Q3 2018. Operating expenses  in Q3 2019 increased 51.5 percent y-o-y to Rs 122.77 crore from Rs 81.05 crore in the corresponding quarter of the previous fiscal. Employee benefits expense in Q3 2019 declined 0.7 percent y-o-y to Rs 71.71 crore from Rs 72.20 crore in Q3 2018.

Finance costs increased more than elevenfold y-o-y in Q3 2019 to Rs 0.71 crore from Rs 0.06 crore in the corresponding quarter of the previous year. Other expenses increase 12.6 percent y-o-y in Q3 2019 to Rs 42.77 crore from Rs 37.99 crore in Q3 2018.

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