Sun TV Network slips after dull Q3 outcome

Sun TV Network fell 1.23% to Rs 358.10 at 14:06 IST on BSE after net profit fell 2.2% to Rs 185.79 crore on 5.4% growth in total income to Rs 523.19 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced after market hours on Friday, 7 February 2014.

Meanwhile, the S&P BSE Sensex was down 6.04 points or 0.03% at 20,370.52

On BSE, 14,211 shares were traded in the counter as against average daily volume of 79,364 shares in the past one quarter.

The stock hit a high of Rs 365 and a low of Rs 356.50 so far during the day. The stock had hit a 52-week high of Rs 480.25 on 7 February 2013. The stock had hit a 52-week low of Rs 327 on 14 June 2013.

The stock underperformed the market over the past one month till 7 February 2014, falling 3.05% compared with the Sensex's 1.53% fall. The scrip had also underperformed the market in past one quarter, sliding 17.15% as against Sensex's 2.14% fall.

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

Sun TV Network's EBITDA (earnings before interest, taxation, depreciation and amortization) fell 1.14% to Rs.372.02 crore in Q3 December 2013 over Q3 December 2012.

Sun TV Network said that despite the reduction in inventory, the company posted a healthy growth of about 17% in advertisement revenues in Q3 December 2013 over Q3 December 2012.

Subscription revenues from cable and Direct-to-Home continued to maintain the digitization momentum with a sustained growth of over about 27% to Rs 167.12 crore in Q3 December 2013 over Q3 December 2012. International subscription revenues grew by 29% in Q3 December 2013 over Q3 December 2012.

The board of directors of the company declared a third interim dividend of Rs 2.50 per share. With this the total dividend declared by the board so far for the financial year ending 31 March 2014 is Rs 7.25 per share as against the total dividend of Rs 9.50 per share declared in the previous year ended 31 March 2013, Sun TV Network said

Sun TV Network offers satellite television channels across four languages of Tamil, Telugu, Kannada, Malayalam. It also airs FM radio stations across India.

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