The frequency and temperature dependences of the light absorption coefficient, representing transitions between band and impurity states in extrinsic magnetic semiconductors, are studied allowing for both s-d or s-f exchange interactions and s-d or s-f hybridizations. Both monotonic and nonmonotonic shifts of the absorption band edge are found. The fine structure of the optical spectrum is determined. It is shown that the presence of s-d or s-f hybridization may generate one or more peaks in the absorption spectrum.