Sun TV Network - Subscription business to remain strong, Ad business to recover, IPL an additional boost!
Subscription business to remain strong, Ad business to recover, IPL an additional boost! Q1 results in line with expectations Sun TV's Q1 FY21 numbers came in line with our expectations as Ad revenues fell sharply by 66% yoy. This was due to Covid related lockdown and absence of original programming. On the other hand, subscription revenues maintained momentum. Also absence of IPL led to yoy fall, as the base year included 2.44 bn of IPL revenues. Profitability at the bottomline was impacted due to higher amortization expenses. Lower corporate Ad spending led to a steep drop in Ad revenues. Subscription revenues were up by 11.5% yoy as Cable TV revenues went up by 34.8% yoy while...