Sun TV Network reported a 9 per cent increase in consolidated net profit of ₹415 crore for the fourth quarter ended March 31, 2024 as against ₹380 crore for the same period last year. Revenue increased by 14 per cent to ₹961 crore (₹840 crore).
For the year ended March 31, 2024, the Chennai-based company reported consolidated net profit of ₹1,925 crore on revenue of ₹4,282 crore against a net profit of ₹1,706 crore on revenue of ₹3,772 crore in the last year.
During the year ended March 31, 2024, the board have declared an interim dividend of ₹6.25 per share (125 per cent); ₹5 per share (I00 per cent), ₹2.50 per share (50 per cent) and ₹3 per share (60 per cent) at their respective Board meetings held on August 11, 2023, November 10, 2023, February 14, 2024 and March 28, 2024, the company said.
The results for the quarter and year ended March 31, 2024 includes income from the Company’s Cricket Franchises (“Sunrisers Hyderabad” and “Sunrisers Eastern Cape”) of ₹136.37 crore and ₹659.03 crore, respectively (quarter and year ended March 31, 2023 — ₹36.96 crore and ₹287.27 crore, respectively) and corresponding costs of ₹94.75 crore and ₹327.60 crores respectively (quarter and year ended March 31, 2023 — ₹52.94 crore and ₹204.98 crore, respectively), the company said.
Sun TV Network Ltd, one of the largest Television Broadcasters in India, operates Satellite Television Channels across seven languages of Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi and Hindi, airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League, SunRisers Eastern Cape of Cricket South Africa’s T20 League and the Digital OTT Platform Sun NXT.
The company’s share price on the BSE closed at ₹665.50, down by 0.31 per cent.