Sun TV Network shares fall nearly 10% as company’s Q1 net profit dips to ₹559.8 crore | Business Upturn

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Shares of Sun TV Network Ltd dropped significantly following the release of its first-quarter financial results. Here’s a summary of the key points:

Key Highlights

Share Price Decline: As of 10:45 AM, Sun TV Network shares were trading 8.60% lower at ₹838.05.

Financial Performance

Net Profit: The company reported a 5.5% decrease in net profit, amounting to ₹559.8 crore for the quarter ending June 30, 2024. This is down from ₹592 crore in the same period last year.
Revenue: Revenue from operations fell by 2.7% to ₹1,312.4 crore, compared to ₹1,349.2 crore in the previous year.
EBITDA: The company’s EBITDA dropped by 9.9% to ₹718.9 crore, down from ₹797.5 crore year-over-year. The EBITDA margin also declined to 54.8% from 59.1% in the same quarter last year.
Advertisement and Subscription Revenue: Advertisement revenue decreased to ₹323.77 crore from ₹339.10 crore, and domestic subscription revenue fell to ₹425.79 crore from ₹435.34 crore.

Dividend Declaration

Dividend: Despite the dip in profits, Sun TV Network declared a dividend of ₹5 per share.

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