 "Sun TV Network surges as Q3 profit beats estimates")
Shares of Sun TV Network has surged 7% to Rs 407 on NSE in otherwise weak market after reporting a better than expected 15% year on year increase in net profit at Rs 214 crore for the third quarter ended December 31, 2014 (Q3). The company had profit of Rs 186 crore in the same quarter last fiscal.
Total operational income during the quarter under grew 9% at Rs 552 crore against Rs 508 crore during the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 197 crore on revenues of Rs 551 crore for the quarter.
EBITDA or operating profit margin expanded over 400 bps to 77.53% from 73.22%.
Meanwhile, the board of directors of the company declared an interim dividend of Rs 6.75 per share (135%).
The stock opened at Rs 395 and touched a low of Rs 390 on NSE. A combined 819,147 shares changed hands on the counter till 1006 hours on NSE and BSE. CNX Nifty was down 1% or 100 points at 8,558.
Total operational income during the quarter under grew 9% at Rs 552 crore against Rs 508 crore during the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 197 crore on revenues of Rs 551 crore for the quarter.
EBITDA or operating profit margin expanded over 400 bps to 77.53% from 73.22%.
Meanwhile, the board of directors of the company declared an interim dividend of Rs 6.75 per share (135%).
The stock opened at Rs 395 and touched a low of Rs 390 on NSE. A combined 819,147 shares changed hands on the counter till 1006 hours on NSE and BSE. CNX Nifty was down 1% or 100 points at 8,558.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%