Sun TV Network tumbles after Q4 outcome

Sun TV Network fell 5.88% to Rs 515.80 at 11:00 IST on BSE after net profit fell 2.3% to Rs 283.07 crore on 24% increase in net sales to Rs 888.88 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours yesterday, 23 May 2019.

Meanwhile, the S&P BSE Sensex was up 135.11 points, or 0.35% to 38,946.50.

On the BSE, 1.94 lakh shares were traded in the counter so far compared with average daily volumes of 72,000 shares in the past two weeks. The stock had hit a high of Rs 561.45 and a low of Rs 513.25 so far during the day. The stock hit a 52-week high of Rs 960.40 on 28 May 2018. The stock hit a 52-week low of Rs 486.95 on 25 January 2019.

The subscription revenues for the quarter rose by about 4% at Rs 319.77 crore, as against Rs 308.84 crore for the corresponding quarter ended 31 March 2018. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter ended 31 March 2019 rose about 16% at Rs 608.40 crore as against Rs 522.40 crore for the previous quarter ended 31 March 2018, Sun TV Network said in a statement.

Sun TV Network, one of the largest television broadcasters in India, operates satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam, airs FM radio stations across India and owns the SunRisers Hyderabad Cricket Franchise of the Indian Premier League.

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