Chennai: The leading Broadcaster Network Sun TV that operates bunch of satellite TV channels across four regional languages of Tamil, Telugu, Kannada and Malayalam and owning FM radio stations across India and IPL Franchise Sunrisers Hyderabad, reported a 16.26% increase in its net profit at Rs 236 crore for the quarter ended 31st March 2016, against a net profit of Rs 202.99 crore during the corresponding quarter last year.
- Total income from operations for the quarter under review rose to Rs 570.68 crore from Rs 548.58 crore in the corresponding period last year.
- For the full fiscal, the company witnessed 18% surge in its stand alone net profit that amounts to Rs 867.25 crore, as against Rs 737.23 crore last year.
- EBITDA Increased to 6% at Rs 1,708.48 crore from Rs 1,614.21 crore.
- Total income from operations for the fiscal 2015-16 was up 7% at Rs 2,403.98 crore as compared to Rs 2,243.62 crore in 2014-15.
- On a consolidated basis, net profit surged 17% to Rs 913.38 crore when compared to Rs 782.59 crore.
- EBITDA was up 6% at Rs 1,774.20 crore from Rs 1,677.24 crore. Consolidated revenues increased 7% to Rs 2,569.78 crore (Rs 25.69 billion).
- The Indian Premier League (IPL) franchise Sun Risers Hyderabad posted an operating loss of Rs 56.89 crore on a revenue of Rs 96.30 crore against the total expense of Rs 153.19 crore
The Sun TV Network owned Aircraft has suffered extensive damages during the Chennai Floods and it was declared beyond repair. The Company has declared the value of the aircraft as Rs 242.03 crore and recorded the same as net loss in current year. It also recognised insurance claim of Rs 260 crore based on the principle approval from the insurers.