Sun TV Network has dipped over 7% at Rs 406 after reporting a lower than expected 11.5% year-on-year (yoy) growth in net profit at Rs 169 crore for the quarter ended September 30, 2013 (Q2) due to slower revenue growth.
The company engaged in broadcasting and cable TV business had profit of Rs 152 crore in a year ago quarter. The company’s income from operations increased 7.6% at Rs 466 crore on yoy basis.
Analyst on an average had expected revenues of Rs 496 crore and net profit of Rs 179 crore for the quarter.
The stock opened at Rs 438 and touched a high of Rs 442 in early morning deals on BSE. A combined 1.32 million shares have changed hands on the counter so far on BSE and NSE
The company engaged in broadcasting and cable TV business had profit of Rs 152 crore in a year ago quarter. The company’s income from operations increased 7.6% at Rs 466 crore on yoy basis.
Analyst on an average had expected revenues of Rs 496 crore and net profit of Rs 179 crore for the quarter.
The stock opened at Rs 438 and touched a high of Rs 442 in early morning deals on BSE. A combined 1.32 million shares have changed hands on the counter so far on BSE and NSE
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