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- SunTV reported growth in overall revenues by 19.3% YoY to Rs 9,723mn (Elara E: Rs. 9,365mn) despite a muted performance on subscription revenues, as ad revenues recovery coupled with IPL revenues during the quarter supported the topline; ad decline of 9%YoY was very poor given the strong mkt revival – this is primarily due to viewership share loss and higher dependence on local brands
- The Subscription revenues for the quarter were up by mere 3% YoY to INR 4240mn, with the flagship channel SUNTV regaining back the lost viewership share with live shows as well as continued traction for movie catalogue.
- EBITDA margins were down sharply by 940bp YoY to 61.8% as other expenses saw a big spike of 165% YoY as well as higher programming costs i.e. cost of revenues by 48% YoY as GEC content resumed fully during the quarter.
- PAT grew 18.3% YoY to INR 4,418mn, largely on back of depreciation & interest costs down 52% & 22% respectively which was partially offset by the cut on EBITDA margins and other income down by 2% YoY during the quarter.
SunTV Q3FY21 Result First Cut – Core ad/subs revenue weak- growth led by IPL/other operating revenue
