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Sun TV Network has reported a 6 percent decline in its standalone net profit for the first quarter of the fiscal year, driven by a drop in advertising revenue. The company’s net profit fell to INR 547 crore, down from INR 582 crore during the same period last year.
Revenues for the quarter also saw a decrease, standing at INR 1,276 crore, a 3 percent drop from the INR 1,318 crore reported in Q1 of the previous fiscal year. Advertising revenue dipped to INR 324 crore, compared to INR 339 crore in Q1 FY24, The Economic Times reported.
Domestic subscription revenue for the quarter was slightly lower at INR 426 crore, down from INR 435 crore last year. The company’s EBITDA also saw a decline, reaching INR 706 crore, compared to INR 786 crore in the corresponding quarter of 2023.
On a consolidated basis, Sun TV’s profit after tax decreased by 5 percent year-on-year, falling from INR 592 crore to INR 560 crore.
Despite the decline, the board of directors has announced an interim dividend of INR 5 per share, maintaining the face value at INR 5 per share.
