MUMBAI: It was less sizzle and more fizzle for Sun TV network in FY25, as the broadcaster reported a dip in both revenues and bottom line, despite pulling in the crowds via its cricket franchises and digital platform Sun Nxt.

The media powerhouse, led by managing director Mahesh Kumar Rajaraman, posted a standalone profit after tax of Rs 1,654.46 crore for the year ended 31 March 2025 – a near 12 per cent drop from last year’s Rs 1,875.15 crore. Revenue from operations came in at Rs 3,878.86 crore, down 6.5 per cent year-on-year, suggesting the sun isn’t quite blazing like it used to.

Even its consolidated figures couldn’t bowl over investors. Group revenues dropped to Rs 4,015.09 crore from Rs 4,282.10 crore a year earlier, with consolidated EBITDA slipping to Rs 2,132.75 crore from Rs 2,638.11 crore – a 19 per cent hit.

The company’s love affair with cricket, however, continued unabated. Its IPL baby Sunrisers Hyderabad and the CSA’s Sunrisers Eastern Cape contributed Rs 641.96 crore in revenue – a respectable innings – but expenses from the franchises ate up over half of that at Rs 351.04 crore. The broadcast business remains the real spinner in Sun TV’s line-up.

On the quarterly scorecard, Q4 FY25 total income rose 7.4 per cent to Rs 1,135.86 crore, but that wasn’t enough to boost profits. PAT stood at Rs 362.18 crore, down from Rs 398.77 crore in the same period last year.
One curveball in the results: an exceptional loss of Rs 73.52 crore on account of impairment in a joint venture – a cautionary tale on where not to bet.

Meanwhile, the board kept investors sweet with four interim dividends through the year totalling Rs 15 per share (300 per cent). Yet, shareholders may be wondering whether that’s lipstick on a slightly fading star.
Sun TV still boasts hefty reserves of Rs 11,450 crore, but the real question for FY26 is whether the network can reignite its programming mojo and OTT play to counter headwinds in the traditional TV and sports biz.

With GenAI reshaping content creation and younger audiences tuning out, Sun TV will need more than prime time reruns and T20 thrills to keep shining.