Income from the IPL franchise stood at Rs 144.04 crore.

With IPL franchise a big contributor Sun TVs revenue up by 10 to Rs 760 crFile photo
news Business Wednesday, August 24, 2016 - 09:21

Television network Sun TV has reported a 10 per cent increase in revenue with a reported Rs 760.83 crore for the quarter which ended in June 2016.

According to a report by Shashidhar KJ in Medianama, the increase was a result of subscription revenues which went up by 22% and cable TV revenues which grew 37% from the same quarter last year. 

However, the report mentions that Sun TV has not provided absolute figures for its cable TV and DTH subscription.

Stating that the network also made money from its IPL franchise, the report adds:

This quarter, income from the IPL franchise stood at Rs 144.04 crore an increase of 49.19% from Rs 96.55 crore in the same quarter last year. Expenses for the franchise stood at Rs 175.84 crore which increased 14.8% in the same quarter last year.

Last week, the Kalanithi Maran-owned Sun TV said that it is confident of receiving approvals from the Centre for its FM radio business after a dispute with the government.

"The company has direct/ indirect investments in FM Radio operations aggregating Rs 620.20 crore, the recoverability of which is dependent upon maintaining profitable operations. The management is confident of receiving the required approvals in respect of the applications by the Group which would enable them to continue the operations of the FM Radio business profitably resulting in the recoverability of the Company's investments both direct and indirect," it said in a statement.

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