Sun TV Network surges 11% post December quarter results

Shares of Sun TV Network have rallied 11 per cent to Rs 577 per share on the BSE on Monday in an otherwise weak market after the company reported net profit growth of 32 per cent at Rs 351 crore in December 2018 quarter (Q3FY19), on back of healthy revenue growth. The company’s revenue was up 32 per cent at Rs 904 crore over the previous year quarter.

Ebitda ((earnings before interest, taxation, depreciation and amortisation) margin improved 180bp year on year (YoY) to 73.8 per cent despite programming cost growing by 51 per cent YoY, which was offset by the positive impact of operating efficiency.