Results     17-Nov-25
Analysis
Sun TV Network
Net profit down 13.4% YoY to Rs 354.3 cr in Q2FY2026
On consolidated basis

Quarter ended September 2025 compared with Quarter ended September 2024.

Net sales (including other operating income) of Sun TV Network has increased 38.92% to Rs 1299.87 crore.  

Operating profit margin has jumped from 57.82% to 60.35%, leading to 45.01% rise in operating profit to Rs 784.47 crore.  Employee cost decreased from 8.97% to 6.63%.   Other expenses fell from 33.21% to 33.02%.   Other direct service cost fell from 24.36% to 19.87%.   

Other income fell 18.49% to Rs 139.95 crore.  PBIDT rose 29.71% to Rs 924.42 crore.  Provision for interest rose 1.21% to Rs 4.18 crore.  Loan funds rose to Rs 146.26 crore as of 30 September 2025 from Rs 128.09 crore as of 30 September 2024.  Sundry debtors were higher at Rs 1,466.40 crore as of 30 September 2025 compared to Rs 1,235.44 crore as of 30 September 2024.  Cash and bank balance declined from Rs 320.13 crore as of 30 September 2024 to Rs 193.28 crore as of 30 September 2025.  Investments declined from Rs 8,071.69 crore as of 30 September 2024 to Rs 7,771.92 crore as of 30 September 2025.  

PBDT rose 29.88% to Rs 920.24 crore.  Provision for depreciation rose 106.24% to Rs 403.93 crore.  Fixed assets increased to Rs 3,110.40 crore as of 30 September 2025 from Rs 932.29 crore as of 30 September 2024.  Intangible assets declined from Rs 844.89 crore to Rs 4.80 crore.  

Profit before tax grew 0.71% to Rs 516.31 crore.  Provision for tax was expense of Rs 131.41 crore, compared to Rs 103.92 crore.  Effective tax rate was 27.03% compared to 20.24%.

Minority interest increased 100% to Rs 0.36 crore.  Net profit attributable to owners of the company decreased 13.42% to Rs 354.33 crore.  

Equity capital stood at Rs 197.04 crore as of 30 September 2025 to Rs 197.04 crore as of 30 September 2024.  Per share face Value remained same at Rs 5.00.  

Promoters’ stake was 75.00% as of 30 September 2025 ,compared to 75.00% as of 30 September 2024 .  

Year-to-date (YTD) results analysis.

Net sales (including other operating income) of Sun TV Network has increased 15.16% to Rs 2590.15 crore.  

Operating profit margin has declined from 56.01% to 54.20%, leading to 11.43% rise in operating profit to Rs 1,403.82 crore.  Employee cost decreased from 7.43% to 6.61%.   Other expenses rose from 36.56% to 39.20%.   Selling and administration expenses fell from 4.48% to 3.64%.   Other direct service cost rose from 19.33% to 19.71%.   

Other income rose 3.25% to Rs 328.86 crore.  PBIDT rose 9.78% to Rs 1732.68 crore.  Provision for interest rose 20.03% to Rs 7.73 crore.  Loan funds rose to Rs 146.26 crore as of 30 September 2025 from Rs 128.09 crore as of 30 September 2024.  Sundry debtors were higher at Rs 1,466.40 crore as of 30 September 2025 compared to Rs 1,235.44 crore as of 30 September 2024.  Cash and bank balance declined from Rs 320.13 crore as of 30 September 2024 to Rs 193.28 crore as of 30 September 2025.  Investments declined from Rs 8,071.69 crore as of 30 September 2024 to Rs 7,771.92 crore as of 30 September 2025.  

PBDT rose 9.74% to Rs 1724.95 crore.  Provision for depreciation rose 65.37% to Rs 511.46 crore.  Fixed assets increased to Rs 3,110.40 crore as of 30 September 2025 from Rs 932.29 crore as of 30 September 2024.  Intangible assets declined from Rs 844.89 crore to Rs 4.80 crore.  

Profit before tax down 3.89% to Rs 1,213.49 crore.  Provision for tax was expense of Rs 296.65 crore, compared to Rs 296.81 crore.  Effective tax rate was 25.13% compared to 23.45%.

Minority interest increased 27.03% to Rs 0.47 crore.  Net profit attributable to owners of the company decreased 8.80% to Rs 883.43 crore.  

Equity capital stood at Rs 197.04 crore as of 30 September 2025 to Rs 197.04 crore as of 30 September 2024.  Per share face Value remained same at Rs 5.00.  

Promoters’ stake was 75.00% as of 30 September 2025 ,compared to 75.00% as of 30 September 2024 .  


Full year results analysis.

Net sales (including other operating income) of Sun TV Network has declined 6.12% to Rs 4019.87 crore.  

Operating profit margin has declined from 61.61% to 53.05%, leading to 19.16% decline in operating profit to Rs 2,132.64 crore.  Employee cost increased from 7.48% to 8.28%.   Other expenses rose from 30.91% to 38.67%.   Selling and administration expenses rose from 3.33% to 3.36%.   Other direct service cost rose from 17.26% to 22.07%.   

Other income rose 38.37% to Rs 698.82 crore.  PBIDT fell 9.92% to Rs 2831.46 crore.  Provision for interest rose 58.29% to Rs 13.55 crore.  Loan funds rose to Rs 124.34 crore as of 31 March 2025 from Rs 37.75 crore as of 31 March 2024.  Sundry debtors were lower at Rs 1,224.06 crore as of 31 March 2025 compared to Rs 1,254.28 crore as of 31 March 2024.  Cash and bank balance rose to Rs 427.63 crore as of 31 March 2025 from Rs 400.81 crore as of 31 March 2024.  Investments rose to Rs 8,302.61 crore as of 31 March 2025 from Rs 7,060.65 crore as of 31 March 2024 .  

PBDT fell 10.10% to Rs 2817.91 crore.  Provision for depreciation rose 1.67% to Rs 540.59 crore.  Fixed assets increased to Rs 1,918.06 crore as of 31 March 2025 from Rs 1,847.07 crore as of 31 March 2024.  Intangible assets stood at Rs 4.80 crore.  

Profit before tax down 12.51% to Rs 2,277.32 crore.  Provision for tax was expense of Rs 513.2 crore, compared to Rs 687.31 crore.  Effective tax rate was 23.15% compared to 26.30%.

Minority interest increased 83.56% to Rs 1.34 crore.  Net profit attributable to owners of the company decreased 11.58% to Rs 1,702.08 crore.  

Equity capital stood at Rs 197.04 crore as of 31 March 2025 to Rs 197.04 crore as of 31 March 2024.  Per share face Value remained same at Rs 5.00.  

Promoters’ stake was 75.00% as of 31 March 2025 ,compared to 75.00% as of 31 March 2024 .  

Cash flow from operating activities decreased to Rs 1,663.08 crore for year ended March 2025 from Rs 2,171.30 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 383.73 crore, compared to Rs 511.18 crore during the year ended March 2024.  

Sun TV Network : Consolidated Results
 Quarter endedYear to DateYear ended
Particulars202509202409Var.(%)202509202409Var.(%)202503202403Var.(%)
Net Sales (including other operating income)1,299.87935.7038.922,590.152,249.2515.164,019.874,282.10-6.12
OPM (%)60.3557.82253 bps54.2056.01-181 bps53.0561.61-856 bps
OP784.47540.9845.011,403.821,259.8111.432,132.642,638.10-19.16
Other Inc.139.95171.69-18.49328.86318.513.25698.82505.0238.37
PBIDT924.42712.6729.711,732.681,578.329.782,831.463,143.12-9.92
Interest4.184.131.217.736.4420.0313.558.5658.29
PBDT920.24708.5429.881,724.951,571.889.742,817.913,134.56-10.10
Depreciation403.93195.85106.24511.46309.2865.37540.59531.721.67
PBT516.31512.690.711213.491262.6-3.892277.322602.84-12.51
Share of Profit/(Loss) from Associates-30.210.68PL-32.943.26PL-4.910.27PL
PBT before EO486.1513.37-5.311180.551265.86-6.742272.422613.11-13.04
EO Income00-00--55.80-
PBT after EO486.1513.37-5.311180.551265.86-6.742216.622613.11-15.17
Taxation131.41103.9226.45296.65296.81-0.05513.2687.31-25.33
PAT354.69409.45-13.37883.9969.05-8.791703.421925.8-11.55
Minority Interest (MI)0.360.18100.000.470.3727.031.340.7383.56
Net profit354.33409.27-13.42883.43968.68-8.801702.081925.07-11.58
P/(L) from discontinued operations net of tax00-00-00-
Net profit after discontinued operations354.33409.27-13.42883.43968.68-8.801702.081925.07-11.58
EPS (Rs)*8.9910.39-13.4222.4224.58-8.8044.2848.85-9.36
* EPS is on current equity of Rs 197.04 crore, Face value of Rs 5, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


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