Sun TV Network records 14 per cent drop in revenue sequentially

Sun TV Network reported results for the quarter ended September 30, 2017 on Friday.

Total sales for Q2FY18, came in at Rs. 675.9 crore. This represents a 14 per cent sequential decline and 8.1 per cent YoY increase.

Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 393.4 crore and the EBIT margin stood at 58.2 per cent.

The company reported PAT of Rs. 284.7 crore which represents a sequential QoQ increase of 13.1 per cent and a YoY increase of 5.3 per cent.

Company has declared interim dividend of Rs. 2.5 per equity share on its face value of Rs. 5 each.

Sun TV Network Ltd is an Indian television network that provides 20 TV channels and 45 FM radio stations in several Indian languages in infotainment covering movies, entertainment, music, documentary and news.

On Friday, the stock opened at Rs. 876.75 and touched an intra-day high and low of Rs. 887.20 and Rs. 866.15, respectively, and finally closed at Rs. 874 on the BSE.