The Covid-19 led lockdown hit ad revenues, which fell sharply by 65.8% YoY. In the current quarter, ad revenues recovered partially and currently are at 75% of pre-Covid levels. Ad spends from FMCG, e-commerce, auto, consumer durables, pharma are seeing a pickup. Sun has reduced ad minutes to maintain ad rates and will increase it once normalcy returns. Also, original fiction programming across all languages resumed with better than pre-Covid viewership in Tamil market. The management indicated start of festive season and pent up demand will lead to recovery in ad revenues....