The dual hit of falling ad revenues and a stagnant pay-TV base has left broadcasters struggling to sustain growth.
Revenue from operations fell 4.4% to ₹6,151 crore from ₹6,435 crore in FY24. Domestic revenue declined 3.5% to ₹5,575 crore, while export revenue slumped 12.4% to ₹576 crore.
Net profit nearly halved to ₹456 crore, down 46% from ₹843 crore a year earlier. Total expenses rose 5.6% to ₹5,770 crore, driven by higher production and operating costs. Spending on production and content increased 2.7% to ₹3,651 crore, while other operating costs jumped 12.6% to ₹1,266 crore.
Despite the profit slump, the company ended the year with a stronger balance sheet. Net cash from operations surged almost 470% to ₹317 crore, and cash and cash equivalents rose 232% to ₹2,728 crore as of March 2025.
The company posted a net increase in cash and cash equivalents of ₹1,906 crore, reversing a ₹1,974 crore decline in FY24.Sony Pictures Entertainment (SPE), part of Japan’s Sony Group Corp, derives around 10% of its global revenue and profit from India, making it one of its largest markets outside the US.“We’re really the last US-based entertainment company with a big footprint in India, and that is a growing market. It’s uneven growth, but a growing market. So over time, we’ll continue to invest there,” said Ravi Ahuja, President & CEO of SPE, during a fireside chat at the BOFA – 2025 Media, Communications & Entertainment Conference in New York in September.
While several global rivals have struggled to scale in India—apart from Disney’s Star—Sony has retained a strong position across television, sports and digital platforms. Its flagship channel, Sony Entertainment Television (SET), ranks among the world’s top-five YouTube channels, underscoring its expanding digital reach.
SPNI currently operates 28 television channels and the streaming service SonyLIV.
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