Culver Max FY25 profit dips 45% to Rs 481 crore, revenue down 4.3% to Rs 6,261 crore

New Delhi: Culver Max Entertainment, earlier known as Sony Pictures Networks India (SPNI) has reported 45.3 per cent decline in FY25 consolidated net profit to Rs 481.21 crore, according to an RoC filing by the company.

Revenue from operations last fiscal was down 4.3 per cent to Rs 6,261.16 crore.

The broadcaster had reported a net profit of Rs 880.18 crore, and its revenue from operations was at Rs 6,542.77 crore for the financial year ended on March 31, 2024.

Total income of the company - which owns over 25 channels in entertainment, sports, and infotainment along with OTT platform SonyLiv - was at Rs 6,459.43 crore in FY25, down 4.34 per cent year-on-year, according to financial data accessed by the business intelligence platform Tofler.

When asked, a company spokesperson in a statement said FY25 was a year of significant change for the media and entertainment industry.

"Advertising budgets were under pressure and market dynamics were evolving, which put short-term pressure on our profitability," he said.

In FY25, its advertisement and sales promotion expenses were at Rs 1,018.34 crore, up 15.14 per cent year-on-year.

Total expenses of Culver Max, jointly owned by SPE Mauritius Holdings and SPE Mauritius Investments, was up 6 per cent to Rs 5,855.70 crore in financial year ended March 31, 2025.

According to the company, in the second half of FY25 its flagship channels Sony Entertainment Television (SET) and Sony SAB recorded strong gains in market share, underlining the strength of its brands and the traction of its strategy.

"Even in this environment, we stayed focused on our long-term priorities. We invested in strengthening our content portfolio, accelerating our digital platforms, and securing marquee sports properties including the Asia Cup. Those investments are already resonating with audiences and advertisers," the spokesperson said.

Over the outlook, the company said in FY26 the company is "firmly" on a growth path.

"With an expanded digital and sports footprint, a renewed focus on execution and rising momentum across our key properties, Culver Max is well positioned to deliver stronger and more diversified performance and to create sustained value for all stakeholders,” he said.