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Sun TV Network Ltd reported a 16 per cent increase in net profit to ₹236 crore for the quarter ended March 31, against ₹203 crore for the corresponding quarter last year. Revenue increased 4 per cent to ₹571 crore (₹549 crore).
For the financial year ending March 1, the Chennai-based television broadcasting company reported an 18 per cent increase in net profit to ₹867 crore (₹737 crore) on a 7 per cent increase in revenue to ₹2,404 crore (₹2,244 crore).
The annual revenue includes income from the company’s IPL cricket franchise Sun Risers Hyderabad of ₹96 crore (₹100 crore) and costs of ₹153 crore (₹159 crore), the financial results statement said.
Flood effect Sun TV said its aircraft sustained damage due to the November-December Chennai floods.
The aircraft’s carrying value at the date of incident of ₹243.02 crore has been recorded as loss in the current year.
The company has recognised insurance claim of ₹260 crore based on the in-principle approval received from the insurers, the statement said.
Due to this, the company has shown an extraordinary item of ₹17.97 crore in the March quarter.
On the BSE, Sun TV’s stock closed at ₹381.50 on Friday, up 1.26 per cent over the previous day’s closing price.
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