Sun TV Network has reported 5.05% rise in net profit to Rs 437.34 crore on a 3.26% increase in revenues to Rs 885.48 crore in Q3 FY24 as compared with Q3 FY23.
Total Expenses during the period under review rose by 8% YoY to Rs 451 crore, due to higher operating expenses (up 10% YoY), higher employee expenses (up 6% YoY) and higher other expenses (up 14% YoY).
Profit before tax in Q3 FY24 stood at Rs 591.31 crore, up by 6.18% from Rs 556.91 crore in Q3 FY23.
The companys board has approved an interim dividend of Rs 2.50 per share for the financial year 2023-24.
Based on the recommendation of nomination & remuneration committee, the board of directors has approved the re- appointment of Rajaraman Mahesh Kumar as the managing director of the company for further period of five years with effect from 1 April 2024 and subject to approval of the shareholders.
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The board has also approved the re- appointments of Krishnaswamy Vijaykumar and Kaviya Kalanithi Maran as the executive directors of the company for further period of five years with effect from 1 April 2024 and subject to approval of the shareholders.
Sun TV Network is engaged in producing and broadcasting satellite television and radio software programming in the regional languages.
The scrip shed 0.89% to currently trade at Rs 621.50 on the BSE.
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