Sony Pictures Networks India sees net profit halve to ₹456 crore in FY25

Culver Max Entertainment Private Limited, widely recognized as Sony Pictures Networks India (SPNI), reported a steep decline in profits and a moderate fall in revenues for the fiscal year 2025, even as it significantly strengthened its cash position.

Revenue from operations for FY25 fell 4.4% to ₹6,151 crore from ₹6,435 crore in FY24. Domestic revenue saw a decline of 3.5% to ₹5,575 crore, while export revenue dropped sharply by 12.4% to ₹576 crore. The slowdown reflects the ongoing challenges faced by broadcasters amid falling advertising revenues and a stagnant pay-TV subscriber base.

Net profit nearly halved to ₹456 crore, down 46% from ₹843 crore in FY24. Total expenses increased 5.6% to ₹5,770 crore, driven by higher production and operating costs. Spending on production and content rose 2.7% to ₹3,651 crore, while other operating costs surged 12.6% to ₹1,266 crore.

Despite the profit slump, SPNI ended the year with a stronger balance sheet. Net cash from operations jumped almost 470% to ₹317 crore, and cash and cash equivalents rose 232% to ₹2,728 crore as of March 31, 2025. The company reported a net increase in cash and cash equivalents of ₹1,906 crore, reversing a ₹1,974 crore decline in the previous fiscal year.

Sony Pictures Entertainment (SPE), part of Japan’s Sony Group Corporation, derives approximately 10% of its global revenue and profit from India, making the country one of its largest markets outside the US. SPNI operates 28 television channels along with its digital streaming platform, SonyLIV.

In leadership developments, SPNI had announced the appointment of Gaurav Banerjee as the new Managing Director and Chief Executive Officer. He succeeded N.P. Singh, under whose leadership SPNI achieved significant milestones in content innovation and market expansion.

Banerjee had remarked, “I am deeply honoured to take on the role of MD & CEO at SPNI. Under N.P. Singh's remarkable leadership, SPNI has achieved tremendous success and innovation in the entertainment industry. I am excited to lead talented teams as we explore new frontiers in original programming, enhance our viewers' experiences, drive our distribution footprint across India, and significantly boost our revenues. Together, we will set new benchmarks in entertainment and deliver exceptional value to our audiences and stakeholders.”

SPNI spokesperson 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. 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."

"In the second half of FY25 our flagship channels Sony Entertainment Television (SET) and Sony SAB recorded strong gains in market share, underlining the strength of our brands and the traction of our strategy. As we enter FY26, we are 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.”

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