Sun TV Network skid after Q2 PAT fell 9% to Rs 335 cr

Sun TV Network fell 2.62% to Rs 431.45 after consolidated net profit slipped 9.2% to Rs 335.02 crore on 4.4% fall in net sales to Rs 768.69 crore in Q2 September 2020 over Q2 September 2019.

On a consolidated basis, profit before tax (PBT) jumped 12.3% to Rs 449.54 crore in Q2 September 2020 as against Rs 400.35 crore in Q2 September 2019. Current tax expense for the quarter surged 221.20% to Rs 116.90 crore as against Rs 36.40 crore in Q2 September 2019. The Q2 result was declared post market hours yesterday, 12 November 2020.

On a standalone basis, net profit fell 5.6% to Rs 345.91 crore on a 2.3% decrease in net sales to Rs 756.16 crore in Q2 September 2020 over Q2 September 2019. EBITDA for the quarter ended 30 September 2020 rose 7.10% to Rs 502.03 crore over Rs 468.74 crore for the previous quarter ended 30 September 2019.

The subscription revenues for the quarter jumped 14% to Rs 427.04 crore as against Rs 375.65 crore for the corresponding quarter ended on 30 September 2019.

Sun TV Network is one of the largest television broadcasters in India, operating satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam, airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League (IPL).

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