Sun TV Network Q1 net profit at Rs 365 crore; revenue at Rs 819 crore

South-based broadcaster Sun TV Network Ltd on Friday reported a consolidated profit after tax (PAT) of Rs 365.03 crore for the quarter ended June.

The company had posted a PAT of Rs 257.21 crore in the April-June period a year ago, Sun TV Network said in a BSE filing.

Revenue from operations came in at Rs 818.87 crore. It was Rs 611.51 crore in the corresponding quarter of the previous fiscal.

Total expenses were at Rs 371.80 crore in Q1 of FY 2021-22.

Sun TV Network said the outbreak of the COVID-19 pandemic and the consequent lockdowns have impacted the regular business operations of the group.

"The results for the quarter and year ended June 30, 2021, are therefore not comparable with those for the earlier periods presented," it said.

The company further said, "The results for the quarter ended June 30, 2021 includes income from the Group's IPL franchise "SunRisers Hyderabad" for season 2021 (partial) of Rs 123.92 crore and corresponding costs of Rs 77.74 crore."

Due to the pandemic, the IPL season 2020 was not played during the quarter ended June 30, 2020.

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

Share of Sun TV Network on Friday settled at Rs 525.20 on BSE, down 0.27 per cent from the previous close.