Sun TV Stock-Up after Q3 outcome

Shares of Indian mass media company, Sun TV Network ended substantially higher in both exchanges today rising share price more than 10 percent after results.

Sun TV Network Limited reported financial report for the quarter ended 31-Decmber-2018 in the last weekend.  According to the results, its net profit widened to Rs351.33 crore for the quarter, up 32 percent year on year from Rs.266.97 crore in the year ago period. Revenue mounted to Rs. 904.45 crore in the quarter ended Dec 2018 as against Rs. 683.28 crore, jumping a 32% growth year on year. PAT arrived at Rs542 crore v/s Rs406.63 crore in the same quarter last year.

Further, it has approved an Interim Dividend of Rs 2.50 per equity share of Rs5 for the FY-2018-19.

The results and dividends impacted Sun TV network today. The stock of Sun TV Network which opened at Rs547.40 per share ended higher at Rs574.55 up 10.37 percent on the BSE.  On the NSE too, the Sun TV share moved higher at Rs574 up by 10.17 percent with Nifty media index up by 1.32 percent at 2,243.60.