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Shares of Sun TV Network has surged 7% to Rs 407 on NSE in otherwise weak market after reporting a better than expected 15% year on year increase in net profit at Rs 214 crore for the third quarter ended December 31, 2014 (Q3). The company had profit of Rs 186 crore in the same quarter last fiscal.
Total operational income during the quarter under grew 9% at Rs 552 crore against Rs 508 crore during the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 197 crore on revenues of Rs 551 crore for the quarter.
EBITDA or operating profit margin expanded over 400 bps to 77.53% from 73.22%.
Meanwhile, the board of directors of the company declared an interim dividend of Rs 6.75 per share (135%).
The stock opened at Rs 395 and touched a low of Rs 390 on NSE. A combined 819,147 shares changed hands on the counter till 1006 hours on NSE and BSE. CNX Nifty was down 1% or 100 points at 8,558.
Total operational income during the quarter under grew 9% at Rs 552 crore against Rs 508 crore during the corresponding quarter of previous year.
Analysts on an average had expected profit of Rs 197 crore on revenues of Rs 551 crore for the quarter.
EBITDA or operating profit margin expanded over 400 bps to 77.53% from 73.22%.
Meanwhile, the board of directors of the company declared an interim dividend of Rs 6.75 per share (135%).
The stock opened at Rs 395 and touched a low of Rs 390 on NSE. A combined 819,147 shares changed hands on the counter till 1006 hours on NSE and BSE. CNX Nifty was down 1% or 100 points at 8,558.
