Sun TV drops after announcing Q1 result

Sun TV Network lost 4.88% to Rs 458.75 at 12:13 IST on BSE after the company's EBITDA margin declined 166 basis points in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours on Friday, 19 August 2016.

Meanwhile, the S&P BSE Sensex was down 146.96 points, or 0.52%, to 27,930.04

On BSE, so far 1.44 lakh shares were traded in the counter, compared with average daily volume of 1.11 lakh shares in the past one quarter. The stock hit a high of Rs 473.55 and a low of Rs 448.50 so far during the day. The stock hit a 52-week high of Rs 491.05 on 19 August 2016. The stock hit a 52-week low of Rs 292.75 on 24 August 2015. The stock had outperformed the market over the past one month till 19 August 2016, rising 18.4% compared with 1.32% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 28.92% as against Sensex's 10.97% rise.

The large-cap company has an equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Sun TV Network's net profit rose 19.02% to Rs 233.06 crore on 9.89% growth in total income to Rs 782.38 crore in Q1 June 2016 over Q1 June 2015. The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 7.25% to Rs 436.43 crore in Q1 June 2016 over Q1 June 2015. The company's EBITDA margin declined 166 basis points to 57.36% in Q1 June 2016 from 59.02% in Q1 June 2015.

Subscription revenue grew about 22% to Rs 232.13 crore in Q1 June 2016 over Q1 June 2015. Cable TV Subscription revenue rose about 37% and DTH subscription revenue rose about 16% in Q1 June 2016 over Q1 June 2015, Sun TV Network said.

Sun TV Network is one of the largest television broadcasters in India, operating satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam. It also operates FM radio stations across India.

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