Net profit of Sun TV Network declined 2.31% to Rs 283.07 crore in the quarter ended March 2019 as against Rs 289.76 crore during the previous quarter ended March 2018. Sales rose 23.98% to Rs 888.88 crore in the quarter ended March 2019 as against Rs 716.95 crore during the previous quarter ended March 2018.

For the full year,net profit rose 27.61% to Rs 1394.86 crore in the year ended March 2019 as against Rs 1093.04 crore during the previous year ended March 2018. Sales rose 27.98% to Rs 3663.27 crore in the year ended March 2019 as against Rs 2862.45 crore during the previous year ended March 2018.

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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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Sun TV Network Ltd gained for a third straight session today. The stock is quoting at Rs 557.35, up 4.35% on the day as on 12:54 IST on the NSE. The benchmark NIFTY is up around 2.8% on the day, quoting at 11727. The Sensex is at 39040.78, up 2.93%. Sun TV Network Ltd has slipped around 7.29% in last one month.

Meanwhile, Nifty Media index of which Sun TV Network Ltd is a constituent, has slipped around 5.99% in last one month and is currently quoting at 2190.25, up 1.23% on the day. The volume in the stock stood at 10.29 lakh shares today, compared to the daily average of 17.66 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 558.2, up 4.04% on the day. Sun TV Network Ltd is down 40.7% in last one year as compared to a 11.51% spurt in NIFTY and a 29.7% spurt in the Nifty Media index.

The PE of the stock is 15.07 based on TTM earnings ending December 18.

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Sun TV Network will hold a meeting of the Board of Directors of the Company on 23 May 2019.

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