Chennai: Sun TV Network reported a robust rise in revenues for the September quarter of FY26, powered largely by its expanding cricket franchise portfolio and higher operating income. However, the gains were offset by a steep increase in expenses and depreciation, resulting in a dip in quarterly profitability.
The broadcaster’s consolidated revenue for Q2 FY26 rose 30% to ₹1,440 crore, compared with ₹1,107 crore in the same period last year. Revenue from operations saw an even sharper jump of 39%, increasing to ₹1,300 crore from ₹935 crore a year earlier. For the first half of FY26, operational revenue grew 15% to ₹2,590 crore, while total revenue for the period stood at ₹2,919 crore, up nearly 14% over H1 FY25.
Despite the top-line surge, expenses surged significantly. Total costs for the quarter rose 55% to ₹925.5 crore from ₹594 crore in Q2 FY25. Depreciation and amortisation more than doubled to ₹404 crore from ₹196 crore, driven by additions in content and franchise-related assets. For H1 FY26, expenses climbed 31% year-on-year to ₹1,705 crore, and depreciation rose 68% to ₹511 crore.
The rise in costs pulled down profitability, with profit after tax (PAT) falling 13% year-on-year to ₹354 crore in Q2 FY26 from ₹409 crore last year. For the half-year, PAT dropped nearly 9% to ₹883 crore compared with ₹769 crore in H1 FY25.
A key highlight of the quarter was Sun TV Network’s acquisition of a 100% stake in Sunrisers Leeds Limited—formerly Northern Superchargers Limited—in England’s The Hundred cricket league. The acquisition, completed on July 28, 2025, for GBP 10.5 million, makes Sunrisers Leeds the company’s wholly owned subsidiary and strengthens its growing cricket ecosystem.
Cricket franchise income saw a significant boost, rising to ₹94.52 crore in Q2 FY26 from ₹9 crore a year ago. For H1 FY26, franchise income surged to ₹167.55 crore from ₹47.14 crore. Corresponding franchise-related costs also increased sharply, reaching ₹72.70 crore in Q2 compared to ₹1.34 crore last year, and ₹328.79 crore in H1 versus ₹237.76 crore in H1 FY25.
