Sun TV's Q1 net profit up 19% to Rs 197 crore

Total income rose by 9% to Rs 691 crore

Sun TV reported 19.10% profit during the quarter ended June 30, 2015 to Rs 197.28 crore as compared to Rs 165.64 crore, during the same period last year.

Company's total income rose to Rs 691.09 crore from Rs 633.58 crore, up by 9.07%. The Revenue, including the IPL Revenue.

Excluding IPL Revenue at Rs.594.54 crore, as against Rs 520.17 crores for the corresponding quarter ended June 30, 2014.

Subscription revenues continued to grow with cable TV revenues growing by ~13% and DTH subscription revenue growing by ~9% over same quarter last year.

Income during the quarter includes IPL Franchise Sun Risers Hyderabad contribution of Rs 96.55 crore. The income from the IPL franchisee during the same quarter of previous fiscal year was Rs 113.4 crore. It has incurred a cost of Rs 153.16 crore during the quarter ended June 30, 2015, as compared to Rs 156.86 crore for the correspondent period of previous year.

The company said during the current period one of its subsidiaries, South Asia FM Ltd have received an order from the Enforcement Directorate, Ministry of Finance Enforcement Directorate provisionally attaching certain Freehold Land and Buildings of the company aggregating Rs 266 crore and fixed deposits with Banks and mutual funds investments aggregating Rs 21.34 crore of SAFM, under the Prevention of Money Laundering Act, 2002 in connection with an investigation not involving the company.

The management is confident that the said Provisional Attachment Order by the ED is not legally tenable against the company. The company has filed a Special Leave Petition challenging the said order with the Supreme Court of India. "Management is confident of a favourable outcome in due course and accordingly," said the company.