Sun TV Network Ltd has posted a 16 per cent drop in net profit at Rs 152 crore for the quarter ended September 30 against Rs 180 crore in the comparable previous year quarter. Total income too, has come down by six per cent to RS 443 crore during the quarter from Rs 470 crore last year.
The board of directors has declared a second interim dividend of Rs 2.50 per share (50 per cent) on a face value of Rs 5. This along with the similar interim dividend declared in August works out to 100 per cent.
The drop in net profit and total revenue is because the company did not have any movie releases during the quarter under consideration. Besides, subscription revenues too, dropped during the quarter, as the group channels got on board Arasu cable only from August.
However, the company has posted a growth of four per cent in the advertisement revenues to Rs 244.45 crore, in comparison with Rs 235.47 crore in the corresponding 2011 quarter.
Commenting on the results, the Sun Group CFO, SL. Narayanan, said the outlook for ad revenues in the second-half of the year looks significantly bright.