SUN TV NETWORK LIMITED — Interim / Quarterly Report 2022

Nov 5, 2021

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91 -44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in GIN.: L22110TN1985PLC012491

5th November, 2021

BSE Limited Floor No. 25, P J Towers, Dalal Street, Mumbai - 400 001

National Stock Exchange of India Limited Exchange Plaza Bandra - Reclamation BandraKurla Complex, Bandra (E) Mumbai - 400 051

Scrip Code: 532733, Scrip Id: SUNTV

Symbol: SUNTV, Series: EQ

Subject: Outcome of Board Meeting as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. *****

With reference to the above, we hereby submit/ inform that:

• 1. The Board of Directors at its meeting held on 5th November 2021, (commenced at 2.30 p.m. and concluded at 4.40 p.m.) has approved and taken on record the Unaudited Financial Results of the Company for the quarter ended 30th September 2021.
• 1. Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th September 2021 prepared in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 together with Limited Review Report by the Statutory Auditors are enclosed herewith. The results are uploaded on the Company's website at www.suntv.in and on the websites of Stock Exchanges at www.bseindia.com and www .nseindia.com.
• 1. Earnings Release of our Company for the quarter ended 30th September 2021 is enclosed herewith.
• 1. An Interim Dividend of Rs.2.50/-per equity share of Rs.5/- each (i.e. 50%) for the financial year 2021-22 has been declared.
• 1. Copy of extract of financial results required to be published in Newspaper as per Listing regulations.

This is for your information and records.

Thanking you, For Sun TV Network Limited

R. Ravi Company Secretary & Compliance Officer

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

			Quarter Ended		Six months ended		Year Ended
S.No	Particulars	September 30,2021		.lune 30t 2021 September 30, September 30, September 30,2020	2021	2020	March JI.2021
		Unaudiled	Unaudited	Unaudited	Unaudited	Unaudiled	Audited
I	Revenue from Operations	828.67	810.10	756.16	1.638.77	1.362.~6	J.I 16.59
2	0 1 her 1 ncome	65.99	SJ.02	51.55	149.01	I 58 82	271J-I
3	Total Income (1+2)	894.66	893. 12	807.71	1,787.78	1,521.08	3,388.03
4	Expenses
	(a) Operating expenses	134. IJ	113.96	100.23	248.09	167.28	4115.Ro
	(b) IPL Franchise Fn"	10.32	24.78	9.68	35.10	9.68	R25
	IC) Employee benefits expense	67.61	68.08	72.38	135.69	145.47	279.69
	td) Depreciation and Amonisalion expense	35.48	33.06	9 1.28	68.5-1	236.74	382.06
	(c) Finance Cos1s•	23.5 1	1.0 1	1.56	24.52	3.33	21.97
	( I) Other Expenses	96.03	135.lS	7 1.84	231.31	119.97	3 15.-'0
	Total Expenses	367.08	376.17	346.97	743.25	682.47	1,453.22
5	Profit Before Tax (3 - 4)	527.58	516.95	460.74	1,044.53	838.61	1,934.8 1
6	Tax Expenses
	ta) Current tax	136.86	125.36	I 16.95	262.22	209.33	-162.88
	(h)Taxes relating to earlier years	(2. 181			(2.18)	-	373.o-l
	(c) Dclerrcd 1ax	(0.-12)	1.83	(2.12)	1.41	0.57	1-122. 121
	Total	134.26	127.19	11 4.83	261.45	209.90	414.41)
7	Profit •ft•r ta. (5 - 6)	393.32	389.76	345.91	783.08	628.71	1,520.41
8	Other Comprchensh·e Income for the period
	ltems not to bt· recla.;:slfltd to profit or loss in subsequent periods:
	Rcnu:asurcmcnt gains and (loss.cs) t,m de tined benefit obligations (n~t of taxes)	(0.1 9)	I0.19)	(0.15)	(0.38)	(0.30)	1.53
9	Total Comprehensh•e income for the period (7 + 8)	393.13	389.57	345.76	782.70	628.41	1,521.94
	10 Paid-up equity share capilal (Face value of Rs.5.00 /. each)	197.04	197.04	197.04	197.04	I 97.04	197.0-1
II	Resen'cs excluding rcv.tluation reserves ( i.e. Other Equity)						6,751.9,
12	Famings per share ( Face "aluc of Rs.5.00 I- ca,h ) - Basic and Diluted • in Rs.	9.98	9.89	8.77	19.87	15.95	Jk.,~

• includes interest on income tax of Rs.22.58 crorcs for the quancr and six months ended Seplember 30. 2021

Pag< I or4

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel : +91-44-4467 6767, Fax : +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

Notes	STANDALONE STATEMENT Of ASSETS AND LIABILITIES
I		Rs in c rorcs
S.No	Particulars	As at September 30, As at March 31, 20212021
		Unaudited	Audited
	ASSETS
I	Non - Current assets
	(a) Property, Plant and Equipment	556.45	585. 16
	(b) Capital work-in-progress	333.47	146.27
	(c) Investment Properties	7.59	7.79
	(d) Other intangible assets	180.57	138.74
	( e) Right to use assets	24.02	36.06
	(I) Investment in Subsidiary / Joint Ventures	713.55	713.55
	(g) Financial Assets
	- Investments	556.31	657.32
	- Other financial assets	22.75	44.33
	(h) Deferred tax assets (net)	335.57	336.98
	(i) Other non current assets	543.64	163.59
	Total Non - current assets	3,273.92	2,829.79
2	Current assets
	(a) Financial assets
	- Investments	2,132.45	2,393.25
	- Trade receivables	1,454.95	1,394.41
	- Cash and Cash equivalents	545.49	461.28
	- Bank balances other than cash and cash equivalents	55 1.0 1	414.02
	- Other financial assets	309.91	250.96
	(b) Other current assets	44.38	33.97
	Total current assets	5,038.19	4,947.89
	TOTAL ASSETS (I+ 2)	8,312.11	7,777.68
	EQUITY AND LIABILITIES
I	Equity
	(a) Equity Share Capital	197.04	197.04
	(b) Other equity	7,386.87	6,751.95
	Total Equity	7,583.91	6,948.99
2	Liabilities
	Non Current liabilities
	(a) Financial liabilities
	- Lease liabilities	12.69	16.72
	- Other financial liabilities	5.03	5.03
	(b) Government grants	3. 18	3.33
	Total Non - current liabilities	20.90	25.08
3	Current liabilities
	(a) Financial liabilities
	- Lease liabilities	14.7 1	23.88
	- Trade payables	297.98	259.43
	- Other current financial liabilities	106.07	191.16
	(b) Government grants	0.49	0.56
	(c) Short term provisions	20.98	19.81
	(d) Current tax liabilities	144.07	220.41
	(e) Other current liabilities	123.00	88.36
	Total current liabilities	707.30	803.6 1

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel : +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

Rcgd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Naga r , Chennai - 600 028CIN: L22I I0TN198SPLC0l249I Email : tvinfo'iilsunnetwork.in; www.suntv.in	Sun TV Network Limited
2. STANDALONE STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED SEPTEMBER .10, 2021		Rs in crorcs
Pa rt iculars		September 30, 2021	September 30, 2020
		Unaudited	Unaudited
Cash Oow from ope rating acri\•itics
Nel profit before tax and cxcc1>tional ilems		1,044.53	838.61
Adjustments to reconcile profit before tax to net cash nows:
Depreciation on property, plant and equipment and investment properties		52.60	44.14
Amortisation of intangible assets		15,94	192.60
(Profil) / Loss on sale of property, plant and equipment		(003)	(0.07)
Translation loss / (gain) on monetary assets and lia bilities		( 1.43)	5.99
lmpainn ent allowance (allowance for bad and doubtful debts / movie advance and other advances)		25.45	22.94
Provision for litigations and claims		0.27	( 1.32)
Bad debts writte n off		0.86	2. 17
Liabilities / provisions no longer required written back		(003)(53.75)	(0.87)(40,92)
Interest income			5.71
Deferral of DTH Revenue		(022)	(26.68)
Export incentives (Government grants)		(90.79)	(58.33)
Dividend income / Net gain on sale o r current investments		37.30	(29.56)
Fair value (gain) / loss on financial instruments at fair value through profit or loss		24.52	3.33
Finance costOper-•ting profit before working capital changes		1,055.22	957.74
Movemenls in working capilal :
(Increase)/ Decrease in trade receivables		(85.6 I)	84.77
(Increase)/ Decrease in other current assets/other financial assets		(35.81)	(46.99)
(Increase)/ Decrease in loans and advances		(9 77)	4.43
Increase / (Decrease) in trade payables and other liabilities/other financial liabilities		16.74	7.16
		0.90	1.15
Increase / (Decrease) in provisionsCash gener-Ated from operations		941.67	1,008.26
Direct taxes paid (net of refunds)		(338.56)603.1 1	(207. 70)800.S6
Nel cash 0ow from operating activities	(A)
Cas h now from investing llctiv ities
Amount paid for purc hase of propeny. plant and equipment and intangible assets		(650.22)	(68.30)
Payment for purchase of financia l instruments (current investme nts)		( 153.90)	(1 ,07100)
Proceeds from sale of financial inslruments (current investments)		593.82	537.85
Proceeds from sale of Propeny. Plant & Equ ipment ( PP&E)		0.21	0.74
Payment for purchase of Non - current investments		( 122.25)	(268,3 1)
		(56~.57)	(374 27)
Term deposits placed wilh banks during lhe year
Term deposils refunded from banks d uring the year		421.99	125.87
Interest rece ived (finance income)		48.5 1	18.28
Dividend income / Net gain on sale of curre nt investments		90.79	58.33
'iet cash (used in) investing activities	( B)	(333.62)	( 1,040.81)

Page 3 or 4

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai • 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

	Sun TV Network LimitedRegd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar , Chennai • 600 028CIN: L221 IOTNl98SPLC012491 Email : tvinfo@sunnetwork.in; www.s11nh•.in
			Rs in crores
	Particulars		September 30,2021	September 30,2020
			Unaudited	Unaudited
	Cash flow from financing activities
	Proceeds from Short tenn borrowings		240.00	12.00
	Repayment of Short term borrowings		(240.00)	(12.00)
	Repayment of lease liabilities including interest		(15.03)	( 15.15)
	Interim Dividend Paid		(147.78)	-
	Interest paid (finance cost)		(22.68)	(0.08)
	Net cash (used in) financing activities	(C)	(185.49)	(15.23'
	Exchange differences on translation of foreign currency cash and cash equivalents	(D)	0.21	(0.24)
	Net (decrease)/ increase in cash and cash equivalents	(A+B+C+D)	84.21	(255.72)
	Opening balance of cash and cash equivalents	E	461.28	402.48
	Closing balance of cash and cash equh•alents	F	545.49	146.76
34	The above unaudited standalone financial results for the quarter and six months ended September 30, 2021 have been reviewed by the AuditCommittee and approved by the Board in their meeting held on November 5, 2021. The above results have been reviewed by the statutory auditors,Deloitte Haskins & Sells LLP who have expressed an unmodified opinion on the same.These unaudited standalone financial results have been prepared in accordance with the recognition and measurement principles provided in IndianAccounting Standard (Ind AS) 34 on 'Jnterim Financial Reporting', the provisions of the Companies Act, 2013 (the Act), as applicable andguidelines issued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements)
S	Regulations 2015, as amended.Based on internal reporting provided to the Chief Operating Decision Maker. "Media and Entertainment" is the only reportable segment for theCompany.
6	The Board ofDireetors have declared an interim dividend ofRs.2.50 per share (50%) at their meeting held on November 5, 2021.This is in additionto the interim dividend of Rs.3.75 per share (75%) at their meeting held on August 13, 2021 .
7	The results for the quarter and six months ended September 30, 2021 includes income from the Company's IPL franchise "SunRisers Hyderabad"for season 2021 (partial) of Rs.51 .63 crores and Rs.175.55 crorcs respectively (Quarter and six months ended September 30. 2020 for season 2020(Partial) of Rs. 45.41 crores) and corresponding costs of Rs.39.30 crores and Rs.11 7.04 crores respectively (Quarter and six months endedSeptember 30, 2020 for season 2020 (partial) of Rs. 31.83 crores).
8	With effect from April I, 2021, the management has reassessed the estimated useful life of film broadcasting rights (satellite rights) based on thepattern of the expected future economic benefits and accordingly, has decided to amonize the cost of such rights over a period of four years, fromthe date of first telecast of the film, in a graded manner in line with the prevailing industry practices in India and across the world. This was,hitherto, fully expensed off on the date of first telecast of the film. Consequently, the depreciation and amortization expense is lower by Rs.25.00crores and Rs.95.28 crores for the quaner and six months ended September 30, 2021 respectively and the Profit before tax is higher by Rs.25.00crorcs and Rs.95.28 crores and Profit after lax / Total Comprehensive Income is higher by Rs. 18. 71 crorcs and Rs. 71.30 crores for the same period.
9	The outbreak ofCOVID -19 pandemic and consequent lock down has impacted the regular business operations of the Company. The results for thequarter and six months ended September 30, 2021 are therefore not comparable with those for the earlier periods presented. The Company hasassessed the impact of the pandemic on its financial results / position based on the internal and external infonnation, to the extent known andavailable up to the date of approval of these financial results and based on the current estimates, the Company expects no funher adjustments to thecarrying amounts as at September 30, 2021 of the investments, intangible assets, receivables and other linancial assets. This assessment and theoutcome of the pandemic as regards the aforesaid matters is highly dependent on the circumstances / developments, as they evolve in thesubsequent periods.
		C/\d	For a nd on behalf of the Boa rd of Directors~Q_
	Place : Chenna i			R. Mahcsh Kumar

Deloitte Haskins & Sells LLP

Chartered Accountants f.SV Ramana Tower 52, Venkatnarayana Road T. Nagar Chennai-600 017 Tamil Nadu, India

Tel: +91 44 6688 5000

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SUN TV NETWORK LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Sun TV Network Limited ("the Company"), for the quarter and six months ended 30 September 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 ' Review of Interim Financial I nformation Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that m ight be identified in an audit . Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Deloitte Haskins &. Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

vl•~ /

Ananthi Amarnath (Partner) (Membership No. 209252)

Place: Chennai Date: 5 November 2021

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in GIN.: L22110TN1985PLC012491

STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2021
			Quarter Ended			Six months ended	(Rupees in crores except EPS and unless otherwise stated)Year Ended
S.No	Particulars	September 30,2021	June 30, 2021	September 30,2020	September 30, September 30,2021	2020	March 31, 2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Revenue from Operations	848.67	818.87	768.69	1,667.54	1.380.20	3.176.89
$\overline{\mathbf{2}}$	Other Income	68.92	85.85	54.42	154.77	164.67	306.84
$\overline{\mathbf{3}}$	Total Income (1+2)	917.59	904.72	823.11	1,822.31	1,544.87	3,483.73
$\overline{4}$	Expenses
	(a) Operating expenses	136.07	118.33	104.06	254.40	174.91	423.00
							48.26
	(b) IPL Franchise Fees	10.32	24.78	9.68	35.10	9.68
	(c) Employee benefits expense	74.82	74.38	78.37	149.20	158.40	307.12
	(d) Depreciation and Amortisation expense	40.38	38.01	96.78	78.39	247.71	403.92
	(e) Finance Costs*	24.68	2.10	2.78	26.78	5.77	26.86
	(f) Other Expenses	98.93	141.17	74.49	240.10	124.67	327.13
	Total Expenses	385.20	398.77	366.16	783.97	721.14	1,536.29
5	Profit Before Share of profit from Joint Venture and Tax (3 - 4)	532.39	505.95	456.95	1,038.34	823.73	1,947.44
6	Share of Profit / (loss) from Joint Venture	(2.76)	(13.68)	(7.41)	(16.44)	(21.81)	(6.42)
$\overline{7}$						801.92
	Profit Before Tax $(5 + 6)$	529.63	492.27	449.54	1,021.90		1,941.02
$\bf{8}$	Tax Expenses
	(a) Current tax	136.85	125.35	116.90	262.20	209.23	465.04
	(b)Taxes relating to earlier years	(2.18)			(2.18)		373.64
	(c) Deferred tax	(0.59)	1.89	(2.38)	1.30	0.46	(422.90)
	Total	134.08	127.24	114.52	261.32	209.69	415.78
$\mathbf{Q}$	Profit after tax (7 - 8)	395.55	365.03	335.02	760.58	592.23	1,525.24
	Profit for the period attributable to
	-Owners of the Company	395.46	365.23	335.09	760.69	592.50	1.525.03
	-Non Controlling interest	0.09	(0.20)	(0.07)	(0.11)	(0.27)	0.21
10	Other Comprehensive Income
	Items not to be reclassified to profit or loss in subsequent periods:						1.66
	Remeasurement gains and (losses) on defined benefit obligations (net of taxes)	(0.16)(0.01)	(0.16)(0.01)	(0.01)0.03	(0.32)(0.02)	(0.02)0.06	(0.05)
	Share of other comprehensive income of equity accounted investees
	Other Comprehensive Income for the period attributable to:
	Owners of the Company	(0.17)	(0.17)	0.02	(0.34)	0.04	1.58
	Non- Controlling Interest	(0.00)	(0.00)	(0.00)	(0.00)	(0.00)	0.03
11	Total Comprehensive income for the period $(9 + 10)$	395.38	364.86	335.04	760.24	592.27	1,526.85
	Total Comprehensive Income for the period attributable to:
	Owners of the Company	395.29	365.06	335.11	760.35	592.54	1.526.61
	Non-Controlling Interest	0.09	(0.20)	(0.07)	(0.11)	(0.27)	0.24
12	Paid-up equity share capital (Face value of Rs.5.00 /- each)	197.04	197.04	197.04	197.04	197.04	197.04
13	Reserves excluding revaluation reserves (i.e. Other Equity)						6,856.67
14	Earnings per share (Face value of Rs.5.00 /- each) - Basic and Diluted - in Rs.	10.04	9.26	8.50	19.30	15.03	38.70

• includes imercsl on income tax of R.s.22.5& crnres for the quarter and six months ended September 30. 2021

.ragt I or 4

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

Sun TV Network Limited ~ Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennal • 600 028 CIN: L22110TNl98SPLC012491 Email:tvinfo@sunnelwork.in;www.suntv.in

Notes I CONSOLIOA TED STATEMENT OF ASSETS AND LIABILITIES Rs In crores As at September 30, March 31 , 2021 S.No Particulars 2021 As., Unaudited Audited ASSETS I Non• Current assets (a) Property. Plant and Equipment 569,02 599.12 (b) Capital work-in-progress 333.54 146.32 (c) lnves,ment Properties 7.59 7.79 (d) Goodwill 4 .80 4.80 (e) Olher intangible asse<s 299.33 263.76 ( t) Right to use asse<s 55.73 70.06 (g) Investment in Subsidiary / Joint Ventures 418.70 435. 15 (h) Financial Assets - ln'estments 556.3 1 657.32 - Other financial assets ~5.60 47.09 (i) Non current tax assets (net) 2.90 2.14 U) Deferred tax assets (net) 337.45 338.75 (k) Other non current assets 545.63 166.06 Total Non• current assets 3,156.60 2 738.36 2 Current assets (a) Financial assets - Investments 2,151.16 2,411 .57 - Trade receivables 1,491.65 l ,433.94 - Cash and Cash equivalents 547.53 468.87 - Bank balances other than cash and cash equivalents 749.26 602.97 - Other financial assets 3 11.60 252.66 l(bl Other current assets 48. 19 38.06 Total current assets 5,299.39 5,208.07 TOTAL ASSETS ( I+ 2) 8,455.99 7,946.43 EQUITY AND LIABILITIES I Equity (a) Equity Share Capital 197.04 197,04 (b) Other equity 7.469.23 6.856,67 (c) Equity attributable to the owners of Company 7,666.27 7,053.71 l(d) Non Controlling in1crcst 4,85 4.96 Total Equity 7,671.12 7,058.67 2 Liabilities Non Current liahililies (a) Financial liabilities • Lease liabilities 44.97 50.30 • Other fi nancial liabilities 5.05 5.05 (b) Government grants 3. 18 3.33 (c) Provisions 1.1 5 1.14 Total Non• current liabilities 54.35 59.82 3 Current liabilities (a) Financial liabilities - Lease liabilities 20.92 30,05 • Trade payables 310.88 273.78 - Other current financial liabilities 108.23 192.72 (b) Government granls 0.49 0.56 (c) Short term provisions 21.1 S 19.98 (d) Current tax liabilities 144.07 220.41 (e) Other current liabilities 124.78 90.44 Total current liabilities 730.52 827.94

TOTAL EQUITY AND LIABILITIES (1+2+ 3) 8,455.99 7,946.43

Page 2 of 4

Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax: +91-44-4067 6161 Email: tvinfo@sunnetwork.in Website: www.suntv.in CIN.: L22110TN1985PLC012491

Sun TV Network Limited Regd office : Murasoli Maran Towers, 73, MRC Naga r Main Road, MRC Nagar, C hennai -600 028 C IN: L221 I0TN1985PLC0l2491 Email: tvinfotalsunnetwork.in; www.suntv.in

2. CONSOLIDATED STATEMENT OF CASII FLO\VS FOR THE SIX MONTHS ENDED SEPTEMBER 301 2021

		Rs in crores
Particulars	September 30, 2021	September 30, 2020
	Unaudited	Unaud ited
Cash flow from operating activities
Net profit before ta, and exceptiona l items	1,038.34	823.73
Adjustments to reconcile profit before tax to net cash flows:
Depreciation on property. plant and equipment and investment properties	56.19	48.84
Amortisation of intangible assets	22.20	198.87
( Profit ) /Loss on sale of property, plant and equipment, net	(0.03)	(0.09)
Translation loss / (gain) on monetary assets and liabilities	( 1.43)	5.99
Impairment allowance I ( written back ) (allowance for bad and doubtful debts / movie advance and otheradvances)	26.20	23.24
Provision for litigations and claims	0.27	( 132)
Bad debts written off	0.89	2. 19
liabilities / provisions no longer required written back	(0.05)	(092)
lntere-st income	(59.3 J)	(46.48)
De ferral of DTH Revenue	-	5.71
Export incentive income	(0.22)	(2668)
Dividend income I Net gain on sale of current investments	(90.79)	(58.33)
Fair value gain on financial instruments at fair value through profit or loss	36.94	(3008)
Finance cost	26.78	5.77
Operating profit before working capital changes	1,055.98	9~0.44
Movements in working capital :
(Increase) / Decrease in trade receivables	(83.53)	100.87
( Increase) I Decrease in other current assets/other financial assets	(35.69)	(47.04)
(Increase) I Decrease in loans and advances	(9.38)	5.90
Increase / (Decrease) in trade payables and other liabilities/other financial liabilities	15.62	7.27
Increase / (Decrease) in provisions	0.91	1.32
Cash generated from operations	943,89	1,018.76
Direct taxes paid (net of refunds)	(339.29)	12084 1)
Net cash now from operating ar:tivities	(A)604.60	810.35
Cash flow from investing activities
Amount paid for purchase of property, plant and equipment and intangible assets	(650.29)	(684 4)
Payment for purchase oftinancial instruments (current investments)	(153.93)	( 1.071.00)
Proceeds from sale of financial instruments (current investments)	593.82	537.85
Proceeds from sale of Property, plant and equipment (PP&E)	0.23	0.83
Payment for purchase of Non current investments	1122.25)	(268.3 1)
Tenn deposits placed with banks d uring the year	(760.82)	(558.69)
Term deposits refunded from banks during the year	610.95	296.90
Interest received (finance income)	53.88	23.50
Dividend income / Net gain on sale of current investments	90.79	58.33
Net Clish (used in) investing acti,·ities	(337.62)( B)	(1,049.03)

f'age 3 of4

Place: Chennai Date : November 5, 2021

◊ SuN TV NFTW RK L IMITE □

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel : +91-44-4467 6767, Fax: +91 -44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

				R.s in crorcs
	Pa rticulars		Septem her 30, 2021	September 30, 2020
			Unaudited	Unaudited
	Cash now from financing activities
	Proceeds from Short term borrowings		240.00	12.00
	Repayment of Shon tcnn borrowings		(240.00)	(1 2.00)
	Repayment of leas.e liabilities including interest		(1 8.06)	(17.98)
	lmerim Dividend Paid		(1 47.78)
	Interest paid (finance cost)		(22.69)	(0.09)
	Net cash (used in) financing activities	(CJ	(188.531	( 18.07)
	Exchange differences on translation of foreign currency cash and cash equivalt	(D)	0.21	(0.24)
	Net (dec rease) / increase in cash and cash equh•alents	(A+B+C+D)	78.66	(256.99)
	Opening balance of cash and cash equivalents	E	468.87	405.80
	Closing balance of cash and cash equivalents	F	547.53	148.81
	Committee and approved by the Board in their meeting held on November 5, 2021. The above results have been reviewed by Statutory auditors, DeloitteHaskins & Sells LLP who have expressed an unmodified opinion on the same.4 These unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles provided in IndianAccouming Standard (Ind AS) 34 on 'Interim Financial Reporting'. the provisions of the Companies Act, 2013 (the Act), as applicable and guidelinesissued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. asamended.Based on internal reporting provided to the Chief Operating Decision Maker, "Media and Entertainment" is the only reportable segment for the Group.
	The Board of Directors have declared an interim dividend ofRs.2.50 ·per share (50%) al their meeting held on November 5, 2021.This is in addition tothe interim dividend ofRs.3.75 per share (75%) al their meeting held on August 13, 2021.7 The results for the quarter and six months ended September 30, 202 1 includes income from the Company's IPL franchise "SunRisers Hyderabad" forseason 2021 (partia l) of Rs.51.63 crores and Rs.1 75.55 crores respectively (Quarter and six months ended September 30. 2020 for season 2020 (Partial)of Rs. 45.41 crores) and corresponding costs of Rs.39.30 crores and Rs.117.04 crores respectively (Quarter and six months ended September 30, 2010
	for season 2020 (partial) of Rs. 31 .83 crores).
568	With effect from April I, 202 1, the management has reassessed the estimated useful life of film broadcasting rights (satellite rights) based on the patternof the expected future economic benefits and accordingly, has decided to amortize the cost of such rights over a period of four years. from the date offirst telecast of the film, in a graded manner in line with the prevailing industry practices in India and across the world. T his was. hitherto~ fullyexpensed off on the date of first te lecast of the film. Consequently, the depreciation and amortization expense is lower by Rs.25.00 crores and Rs.95.28crores for the quarter and six months ended September 30, 2021 respectively and the Profit before tax is higher by Rs.25.00 crores and Rs.95.28 croresand Profit after tax I Tota l Comprehensive Income is higher by Rs. I 8. 7 1 crores and Rs. 7 1.30 crores for the same period.
	9 The outbreak of COVID -19 pandemic and consequent lock down has impacted the regular business operations of the Group. The results for the quarterand six months ended September 30, 2021 arc therefore not comparable with those for the earlier periods presented. The Group has assessed the impacto f the pandemic on its financial resuhs / position based on the internal and external infonnation, to the extent known and available up to the date olapproval of these financial rest1lts and based on the current estimates, lhe Group expects no further adjustments to the carrying amounts as at September30, 2021 of the investments. intangible assets, receivables and other financial assets. This assessment and the outcome of the pandemic as regards theaforesaid matters is highly dependent on the circumstances / developments, as they evolve in the subsequent periods.

R. Mahesh Kumar Managing Direcro r

P~g• 4 of4

Deloitte Haskins & Sells LLP

Chartered Accountants ASV Ramana Tower 52, Venkatnarayana Road T. Nagar Chennai-600 017 Tamil Nadu, India

Tel: +91 44 6688 5000

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SUN TV NETWORK LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Sun TV Network limited ("the Parent") and its subsidiary(the Parent and its subsidiary together referred to as "the Group"), and its share of the net loss after tax and total comprehensive loss of its joint venture for the quarter and six months ended September 30, 2021("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial I nformation Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim fi nancial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Sect ion 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015,as amended, to the extent applicable.

• 1. The Statement includes the results of the following entities:
  • a. Parent Sun TV Network limited
  • b. Subsidiary Kai Radio limited
  • c. Joint venture South Asia FM Limited along with their j oint ventures and associate companies.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the branch auditors and other auditors referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles general ly accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material m isstatement.

Deloitte Haskins & Sells LLP

1. We did not review the financial results of the subsidiary included in the Group, whose financial results reflect total assets of Rs. 434.36 crore-s as at September 30, 2021 and total revenues of Rs. 23.15 crores and Rs 35.00 crores for the quarter and six months ended September 30, 2021 respectively, net profit /(loss) after tax of Rs.4.99 crores and Rs.(6.06) crores for the quarter and six months ended September 30, 2021 respectively and total comprehensive income /(loss) of Rs 5.02 crores and Rs.(6.00)crores for the quarter and six months ended September 30, 2021 respectively and net cash out flows of Rs. 5.53 crores for the six months ended September 30, 2021, as considered in the standalone financial results of the entity included in the Group. The consolidated unaudited financial results also includes the Group's share of loss after tax of Rs.2.76 crores for the quarter and Rs.16.44 crores for the six months ended September 30, 2021 respectively and Total comprehensive loss of Rs.2. 77 crores for the quarter and Rs.16.46 crores for the six months ended September 30, 2021 respectively, as considered in the Statement, in respect of the joint venture, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the subsidiary and joint venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Ananthi Amarnath Partner (Membership No. 209252) (UDIN: 21209252AAAAIU3629)

Place: Chennai Date: 5 November 2021

SV:N Pf.I :Networ{ Limited

f£amings <Refease for tlie quarter entfetf

JUii Septem6er, 2021

~enues up -9.59% for tlie quarter erufetf 3(11i Sept'21. }ltfvt. <R.,venues up - 39. 84 % for tfie quarter enaea J(1fi Sept '21 . PiBIW)f. up -3. 69 % for tlie quarter erufetf 3(1fi Sept' 2021. <Pro.fit after tat up ~13.71 %fort/ie quarterentfea3<1li Sept' 2021

Jriofitigfits:

• ❖ Revenues up ~9.59%for the quarter ended 30'" Sept'21, at Rs.828.67 crs,·
• ❖ Advertisement Revenues up ~39.84%for the quarter ended 30111 Sept '21, at Rs.341. 77 crs;
• ❖ EBITDA up ~3.69% for the quarter ended 30'" Sept '21 at Rs.520.58 crs;
• ❖ Profit after Tax up ~13. 71%for the quarter ended 301 " Sept '21, at Rs.393.32 crs;

Chennai, India, November 5, 2021: Sun TV Network Limited, one of the largest Television Broadcasters in India, operates Satellite Television Channels across five languages of Tamil, Telugu, Kannada, Malayalam and Bangla, airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League.

FOR THE QUARTER ENDED JOTII SEPTEMBER'2021, the Revenues for the quarter was up by ~9.59 % at Rs.828.67 crores as against Rs. 756.16 crores for the corresponding quarter ended 30th September'2020. The Total Income for the quarter was up by ~10.77 % at Rs.894.66 crores as agai nst Rs. 807.71 crores for the corresponding quarter ended 30th September'2020.

SVN '1:V Networl £imitetf

EBITDA for the quarter ended 30th September'202 l was higher by 3.69 % at Rs.520.58 crores as against Rs. 502.03 crores for the previous quarter ended 30th September'2020. The Profit before taxes for the current quarter rose by ~14.51 % to Rs.527.58 crores as against Rs. 460.74 crores for the previous quarter ended 30th September'2020. The Profit after taxes for the current quarter rose by~ 13.71 % to Rs.393.32 crores as against Rs. 345.91 crores for the previous quarter ended 30th September'2020.

INTERIM DIVIDEND: At the Board Meeting held today, the Board of Directors have declared an Interim Dividend of Rs. 2.50 per share (50 %) on a face value of Rs.5.00 per share.

* * *

SUN Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028, India. Tel: +91-44-4467 6767, Fax : +91-44-4067 6161 Email: tvinfo@sunnetwork.in GROUP Website: www.suntv.in CIN.: L22110TN1985PLC012491

Sun TV Network Limited ~ Regd office: Murasoli Maran Towers, 73, MRC Nagar Main Road, MRC Nagar, Chennai - 600 028 CIN: L221 I0TN1985PLC0l2491 Email :tvinfo@sunnetwork.in;www.suntv.in

Ex " tract of consolidated financial results for the quarter and six months ended September 30, 2021

				(Rupees in crores except EPS and unless otherwise stated)
			Quarter ended			Six months ended	Year ended
Sno	Particulars	September30, 2021	,lune 30,2021	September30, 2020	September30, 202 1	September30, 2020	Ma rch 31.2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Income from Operations ( net )	848.67	818.87	768.69	1,667.54	1,380.20	J, 176.89
2	Net Profit before tax	529.63	492.27	449.54	1,021.90	801.92	1,94 1.02
3	Net Profit after tax	395.55	365.03	335.02	760.58	592.23	1,525.24
4	Total Comprehensive income	395.38	364.86	335.04	760.24	592.27	1,526.85
5	Equity share capital (Face value of Rs.5.00 /- each)	1.97.04	197.04	197.04	197.04	197.04	197.04
6	Reserves excluding revaluation reserves ( i.e. OtherEquity)						6.856.67
7	Earnings Per Share ( Face value of Rs.5.00 /. each )Basic and Diluted - in Rs.	10.04	9.26	8.50	19.30	15.03	38.70
				Not annualised

Notes:

			Quarter ended			Six months ended
Sno	Particulars	September30, 2021	June 30,2021	September30, 2020	September30,2021	Septembt;r30,2020	March 31,2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Income from Operation (net )	828.67	810.10	756.16	1,638.77	1,362.26	3, 116.59
2	Net Profit before Lax	527.58	516.95	460.74	1,044.53	838.61	1,934.81
3	Net Profit after tax	393.32	389.76	345.91	783.08	628.71	1.520.41
4	Total Comprehensive income	393. 13	389.57	345.76	782.70	628.41	1.52 1.94

2 The above is an extract of the detailed fonnat of quaner and six months ended financial results tiled with the Stock Exchange under Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requir,ements ) Regulations. 2015. The full format of the said financial results are available in the websites of the Company, National Stock Exchange of India Limited and BSE Limited at www.suntv.in, www.nseindia.com and www.bseindia.com respectively.

3 The outbreak of COVID -19 pandemic and consequent lock down has impacted the regular business operations of the Group. The results for the quarter and six months ended September 30, 2021 are therefore not comparable with those for the earlier periods presented. The Group has assessed the impact of the pandemic o n its financial results / position based on the internal and external infon11ation, to the extent known and available up to the date of approval of these financial results a nd based on the current estimates, the Group expects no funher adjustments to the carrying amounts as at September 30, 2021 of the investments, intangible assets, rece ivables and other financial assets. This assessment and the outcome of the pandemic as regards the aforesaid matters is highly dependent on the circumstances / developments. as they evolve in the subsequent periods.

For and on behalf of the Board of Directors

Place : Chennai R. Mahesh l< umar Da te : Nonmbcr 5, 2021 Managing Director

sd/-