Sun TV shares climb over 11%

Stocks of Sun TV Network surged over 11 per cent today after the company reported 19.10 per cent increase in net profit for the first quarter ended June 30.
Extending Friday's rally post earnings, shares of the company ended the day 11.22 per cent higher at Rs 374.30 on the BSE. During the day, it soared 18.25 per cent to Rs 398.
At the NSE, the stock rose sharply by 11 per cent to end at Rs 374.
Shares of the company had gained 9 per cent on Friday.
In two days, the company's market valuation rose by Rs 2,575.59 crore to Rs 14,750.59 crore.

"Shares of Sun TV soared more than 18 per cent in the day after the company reported a better-than-expected growth in bottom-line," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.

Sun TV on Friday reported a 19.10 per cent increase in net profit at Rs 197.28 crore for the first quarter ended June 30, 2015.
The company had reported a net profit of Rs 165.64 crore for the April-June quarter of the last year.
Income from operations of Sun TV Network in the quarter under review increased 9.07 per cent to Rs 691.09 crore as against Rs 633.58 crore in the corresponding quarter last year, the company had said in a BSE filing.

During the quarter, Sun TV's advertising revenue increased 16 per cent to Rs 323.89 crore.