 "Sun TV Network surges post Q1 results")
Sun TV Network has surged 18% to Rs 398 on the BSE after the company reported a 19% year-on-year (YoY) increase in net profit at Rs 197 crore for the first quarter ended June 30, 2015 (Q1). The company had reported a net profit of Rs 166 crore for the April-June quarter of the last year.
The company reported a healthy growth in net profit on buoyant advertisement revenue and growth in cable and DTH (direct-to-home) subscription income.
Income from operations grew 9% cent to Rs 691 crore as against Rs 634 crore in the corresponding quarter last year, Sun TV Network said in a BSE filing.
Meanwhile, in past four-trading sessions, the stock has surged 45% from Rs 274 after the Delhi High Court allowed Red FM, a part of Sun Group, to participate in phase III e-auction.
The company said management is confident of receiving the required approval against its applications, to enable continued operations of these FM Radio stations and the recoverability of the company’s investments, direct and indirect, in its radio operations/investees.
At 10:24 AM, the stock was up 15% at Rs 387 on the BSE. The trading volumes on the counter more than doubled with a combined 6.5 million shares changed hands on the BSE and NSE.
The company reported a healthy growth in net profit on buoyant advertisement revenue and growth in cable and DTH (direct-to-home) subscription income.
Income from operations grew 9% cent to Rs 691 crore as against Rs 634 crore in the corresponding quarter last year, Sun TV Network said in a BSE filing.
Meanwhile, in past four-trading sessions, the stock has surged 45% from Rs 274 after the Delhi High Court allowed Red FM, a part of Sun Group, to participate in phase III e-auction.
The company said management is confident of receiving the required approval against its applications, to enable continued operations of these FM Radio stations and the recoverability of the company’s investments, direct and indirect, in its radio operations/investees.
At 10:24 AM, the stock was up 15% at Rs 387 on the BSE. The trading volumes on the counter more than doubled with a combined 6.5 million shares changed hands on the BSE and NSE.