Sun TV Network Q3 Results: Cons PAT rises 7% YoY to Rs 454 crore
Sun TV Network has reported a consolidated net profit of Rs 454 crore in Q3, up 6.8% from Rs 425 crore in the same quarter of the previous fiscal.
The company's total income was up 7.5% at Rs 1059 crore while operating revenue increased 4% to Rs 923 crore. Expenses rose 7.8% to Rs 451 crore.
The broadcaster owns 35 TV channels in six languages and an OTT platform Sun NXT, besides FM radio stations across India. It also owns two cricket franchises Sun Risers Hyderabad and Sun Risers Eastern Cape in Indian Premier League and SA 20, respectively.
Sun TV Network's board has approved the reappointment of Rajaraman Mahesh Kumar as Managing Director of the company for five years with effect from April 1, 2024 subject to approval of the shareholders by way of postal ballot.
The board has also approved the reappointment of Kaviya Kalanithi Maran, daughter of Sun TV Network promoter Kalanithi Maran, and Krishnaswamy Vijaykumar as executive directors for five years from April 1, 2024.
Kal Radio, a subsidiary of Sun TV Network, has approved a proposed scheme of amalgamation with Udaya FM at its board meeting on January 4, 2024.
Similarly, a proposed composite scheme of arrangement for amalgamation among South Asia FM and its Joint Ventures/Associate Companies has also been approved by the boards of each company at their respective meetings on January 4, 2024.
South Asia FM is a JV between Sun TV Network and Astro All Asia Networks.
The appointed date for the respective schemes of amalgamation is April 1, 2023, and is
