Sun TV rallies 7% on Q2 earnings, interim dividend

Sun TV Network has rallied 7% to Rs 292, extending the previous day’s gain of 5%, after the board of directors declared an interim dividend of Rs 3.75 a share (75%) on the face value of Rs 5 per share.

“This is in addition to the interim dividend of Rs 2.50 per share (50%) declared at the board meeting held on August 01, 2011," the company said in a filing to the stock exchanges.

Meanwhile, the broadcasting and cable TV operator posted an 8% year-on-year (y-o-y) growth in net profit at Rs 180 crore for the quarter ended September 30, 2011. The total turnover grew 6% to Rs 451 crore on y-o-y basis.

The channels have been able to maintain their advertising growth from a well-diversified mix of clients (national, regional and local) across multiple product categories, the company said.

A combined 150,000 shares have changed hands on the counter in opening deals on both the exchanges.