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Sun TV Q2 net dips 8.7% to Rs 154.47 cr as expenses jump 21%

MUMBAI: South Indian broadcast major Sun TV Network has witnessed an 8.7 per cent drop in its net profit for the quarter ended 30 September, as its expenses for the quarter grew 21.08 per cent compared to year-ago period.

The company has registered a standalone net profit of Rs 154.47 crore (Rs 1.54 billion) in the second quarter of the fiscal, as against a net profit of Rs 169.16 crore (Rs 1.69 billion) in the year-ago period.

Total income from operations, meanwhile, was up by 9.14 per cent to Rs 509.02 crore (Rs 5.09 billion), from Rs 466.41 crore (Rs 4.66 billion) in the corresponding quarter of the previous fiscal.

According to the company, advertisement revenue was up by 11.43 per cent at Rs 260.26 crore (Rs 2.60 billion), as against Rs 233.56 crore (Rs 2.34 billion) for the corresponding quarter of FY14. DTH revenue for the quarter was up by 20 per cent at Rs 130.07 crore (Rs 1.30 billion), as against Rs 108.40 crore (Rs 1.08 billion) in the earlier year.

Total expenses stood at Rs 298.22 crore (Rs 2.98 billion), up from Rs 246.29 crore (Rs 2.47 billion), mainly led by depreciation and amortisation, which jumped 57 per cent to Rs 185.01 crore (Rs 1.85 billion) in the quarter.

During the quarter under review, Sun TV’s EBITDA was up by 17.21 per cent to Rs 395.81 crore (Rs 3.96 billion), compared to Rs 337.68 crore (Rs 3.38 billion) in the year-ago period.

Hyderabad Sunrisers

Income from IPL franchise ‘Hyderabad Sunrisers’ was at Rs 41 lakh (Rs 4.1 million), while cost incurred during the quarter was at Rs 74 lakh (Rs 7.4 million).