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Sun TV declares interim dividend as numbers jump in first quarter

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BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the quarter ended 30 June 2018 (Q1 2019, quarter or period under review) as compared to the corresponding quarter of the previous year (Q1 2018). The company reported 40.8 percent higher year on year (y-o-y) standalone total income in the quarter under review at Rs 1,159.39 crore as compared to Rs 823.38 crore in Q1 2018. Standalone operating revenue increased 42.5 percent y-o-y to Rs 1,120.39 crore in Q1 2019 from Rs 786.32 crore in Q1 2018.The board of directors of the company has declared an interim dividend of 100 percent or Rs 5 per equity share of face value of Rs 5 each.

The company has stated in its earnings release that standalone subscription revenue at Rs 311.27 crore was up 15 percent y-o-y.

The company’s standalone profit after tax or PAT in Q1 2019 improved 62.6 percent y-o-y to Rs 409.14 crore as compared to Rs 251.64 crore in Q1 2019.

Sun TV standalone EBIDTA in Q1 2019 was Rs 731.74 crore (65.6 percent of operating revenue), 63.9 percent higher as compared to Rs 448.36 crore (57 percent of operating revenue) in Q1 2018.

Total Expenditure (TE) during the period under review increased 20.7 percent y-o-y to Rs 532.71 crore as compared to Rs 441.5 crore in the corresponding quarter of the previous year.

Operating expense in Q1 2019 increased 18.4 percent y-o-y to Rs 80.90 crore from Rs 68.34 crore in the corresponding quarter of the previous year. Employee Benefits Expense in Q1 2019 increased 24.5 percent y-o-y to Rs 85.16 crore as compared to Rs 64.42 crore in Q1 2018. Other expenses (OE) in the Q1 2019 increased 28.1 percent to Rs 148.29 crore as compared to Rs 115.75 crore in the corresponding quarter of the previous year.

SunRisers Hyderabad adds to operating profits of Sun TV

Su TV paid 16.6 percent lower IPL Franchisee Fees during the quarter under review at Rs 71.33 crore as compared to Rs 85.48 crore in Q1 2018. Sun TV’s IPL franchise has turned operationally profitable as per the notes in Sun TV’s financial statement. The company has included income of Rs 385.92 crore from Sun Risers Hyderabad and costs incurred on it of Rs186.66 crore in Q1 2019. Corresponding numbers for Sun Risers Hyderabad for year ago quarter were income of Rs 143.10 crore and costs of Rs 165.50.

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