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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1.The above unaudited consolidated financial results for the quarter and six months ended September 30, 2021 have been reviewed by the Audit Committee and approved by the Board in their meeting held on November 5, 2021. The above results have been reviewed by Statutory auditors, Deloitte Haskins &amp; Sells LLP who have expressed an unmodified opinion on the same.   2.These unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting Standard (Ind AS) 34 on ‘Interim Financial Reporting’, the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended.   3.Based on internal reporting provided to the Chief Operating Decision Maker, “Media and Entertainment” is the only reportable segment for the Group.   4.The Board of Directors have declared an interim dividend of Rs.2.50 per share (50%) at their meeting held on November 5, 2021.This is in addition to the interim dividend of Rs.3.75 per share (75%) at their meeting held on August 13, 2021.   5.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 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, 2020 for season 2020 (partial) of Rs. 31.83 crores).   6.With effect from April 1, 2021, the management has reassessed the estimated useful life of film broadcasting rights (satellite rights)  based on the pattern of 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 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.25.00 crores and Rs.95.28 crores 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 crores and Profit after tax / Total Comprehensive Income is higher by Rs.18.71 crores and Rs.71.30 crores for the same period.   7.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 on its financial results / position based on the internal and external information, to the extent known and available up to the date of approval of these financial results and based on the current estimates, the Group expects no further adjustments to the carrying amounts as at September 30, 2021 of the investments, intangible assets, receivables 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.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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