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Buoyant advertisement revenue and growth in cable and DTH subscription income helped Sun TV Network report a 19 per cent growth in net profit in the first quarter, compared with the corresponding quarter in the previous year.
For the quarter ended June 30, the media and entertainment company reported a net profit of ₹197.28 crore (₹165.64 crore) on a total income of ₹691.09 crore (₹633.58 crore). SL Narayanan, Chief Financial Officer, said the performance during the quarter was “basically driven by the recovery in ad revenue” which increased about 15 per cent. Subscription revenue from cable and DTH were also up about 10 per cent.
Ad revenue growth continues to be influenced largely by FMCG and regional brands which have traditionally been the areas of strength for the network. Sun Network operates satellite television channels across four South Indian languages and a countrywide FM radio stations. In addition, e-commerce businesses, which till recently focussed on print and the English medium, have started advertising in regional languages as well, he said.
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