Sun TV Network Q3 PAT declines 9% YoY to Rs 416 cr

The media company's standalone net profit decreased 9% to Rs 416.32 crore on 17% decline in revenue to Rs 857.51 crore in Q3 FY23 over Q3 FY22.

Sun TV Network's advertisement revenue stood at Rs 380 crore for the quarter ended 31 December 2022.

Profit before tax was at Rs 556.91 crore in Q3 FY23, down 8.7% from Rs 609.80 crore reported in the same period a year ago. Total expenses decreased by 15.16% year on year to Rs 394.80 crore in Q3 FY23.

EBITDA tumbled 20.61% to Rs 573.07 crore in the quarter ended 31 December 2022 as compared with Rs 721.87 crore recorded in Q3 FY22.

Meanwhile, the company's board has declared an interim dividend of Rs 3.75 per equity share for the financial year 2022-23.

On consolidated basis, the company's net profit shed 9.8% to Rs 425 crore on 16.4% fall in revenue to Rs 886.88 crore in Q3 FY23 over Q3 FY22.

Sun TV Network is engaged in producing and broadcasting satellite television and radio software programming in the regional languages.

Shares of Sun TV Network advanced 2.41% to Rs 458.15 on the BSE.

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