Sun TV Network Q3 profit rises 7% to Rs 385 crore

New Delhi: South-based TV broadcaster Sun TV Network Ltd on Friday reported a 7.15 per cent increase in consolidated profit after tax for the December quarter at Rs 384.69 crore.

It had reported profit after tax of Rs 359.01 crore in the October-December period a year ago, Sun TV said in a BSE filing.

However, total income dipped 7.89 per cent to Rs 914.17 crore during the quarter under review, as against Rs 992.58 crore in the corresponding period of the previous fiscal.

Subscription revenues for the quarter rose "18 per cent at Rs 411.85 crores as against Rs 349.60 crores for the corresponding quarter ended December 2018", Sun TV said in a post-earnings statement.

The results also include revenue from SunRisers Hyderabad, a cricket franchise of the Indian Premier League (IPL).

"The results for the nine months ended December 31, 2019 includes income from the Company's IPL franchise SunRisers Hyderabad - for season 2019 (partial) of Rs 244.44 crore and corresponding costs of Rs 138.46 crore," it said.

Total expenses stood at Rs 404.35 crore as against Rs 441.86 crore earlier, down 8.48 per cent.

Sun TV Network operates satellite TV channels across four languages -- Tamil, Telugu, Kannada and Malayalam and owns FM radio stations pan-India.

Shares of Sun TV Network Ltd on Friday settled at Rs 496.45 on BSE, down 0.56 per cent from its previous close.