Sun TV Q3 Review - Ad Recovery, Content Rejig Key: ICICI Direct 
A viewer operating a television remote. (Source:

Sun TV Q3 Review - Ad Recovery, Content Rejig Key: ICICI Direct 


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ICICI Direct Report

Sun TV Network Ltd.’s Q3 FY21 numbers were mixed as advertisement recovery was slower and subscription growth was lower than expected but lower amortisation aided profit after tax.

Revenue (standalone) was at Rs 972.3 crore, up 19.3% YoY boosted by Indian Premiere League revenue. Ex- IPL revenue was at Rs 763.3 crore, down 6.3% YoY.

Ad revenues at Rs 309 crore were down 9.4% YoY as ad spend by retail is yet to pick up.

Subscription revenues were up approximately 3% YoY to Rs 424 crore. Ebitda was at Rs 600.7 crore, up 3.5% YoY while Ebitda margin at 61.8% was down 944 basis points YoY.

Click on the attachment to read the full report:

ICICI Direct SunTV Q3FY21 Result Update.pdf


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