Sun TV Network dips 6% on mixed September quarter results

The stock dipped 6% to Rs 622 on the BSE in early morning trade after the company reported a mixed operating performance in September quarter with a miss on revenue but a beat on margins and profit.

Shares of Sun TV Network have dipped 6% to Rs 622 per share on the BSE in early morning trade after the company reported a mixed operating performance in September quarter (Q2FY19) with a miss in revenue but a beat in margins and profit.

Broadcasting firm Sun TV Network on Friday reported a 23% year-on-year (Y-o-Y) increase in standalone net profit at Rs 3.51 billion for Q2FY19, against Rs 2.85 billion in the same period last year. Revenue grew by 10.9% YoY to Rs 7.50 billion, lower than the average analyst estimates of Rs 7.63 billion. EBITDA (earnings before