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EBITDA tanked 25.7% to ₹540.8 crore in the second quarter of this fiscal over ₹728 crore in Q2 of FY24. Shares of Sun TV Network Ltd ended at ₹728.60, down by ₹1.40, or 0.19%, on the BSE.
South-based broadcaster Sun TV Network Ltd on Wednesday (November 13) reported an 11.9% year-on-year (YoY) decline in net profit at ₹409.2 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Sun TV Network posted a net profit of ₹464.5 crore, the company said in a regulatory filing.
Revenue from operations fell 10.9% to ₹934.5 crore against ₹1,048.5 crore in the prior-year period.
At the operating level, EBITDA tanked 25.7% to ₹540.8 crore in the second quarter of this fiscal over ₹728 crore in Q2 of the previous fiscal.
The EBITDA margin stood at 57.9% in the reporting quarter versus 69.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
For the quarter ended September 30, 2024, Sun TV reported a 3.26% increase in revenues (excluding movies and sports) at ₹799.36 crore, compared to ₹774.12 crore in the same period last year. Total income for the quarter stood at ₹1,064.14 crore, down from ₹1,125.08 crore in Q2 FY24.
Advertisement revenue rose by 2.13% to ₹335.42 crore, up from ₹328.42 crore in the previous year’s corresponding quarter. Profit before taxes for the current quarter was reported at ₹498.40 crore, a decrease from ₹608.24 crore in the same quarter of the previous year.
The board has declared an interim dividend of ₹5 per equity share of ₹5 each (i.e. 100%) for financial year 2024-25. The results came after the close of the market hours. Shares of Sun TV Network Ltd ended at ₹728.60, down by ₹1.40, or 0.19%. on the BSE.
(Edited by : Shoma Bhattacharjee)
