Sun TV zooms 10% post June quarter earnings; Nomura maintains 'Buy'

The media conglomerate said that revenues are close to 75 per cent of the pre-COVID levels

Shares of Sun TV surged 10 per cent to Rs 440.20 on the BSE after the company shared a healthy subscription outlook going forward and said that revenues were already close to 75 per cent of the pre-Covid levels. Meanwhile, the company reported consolidated profit after tax (PAT) of Rs 257.41 crore for the quarter ending June 30, 2020 (Q1FY21) as compared to Rs 386.61 crore reported in the corresponding quarter last year.

The broadcasting major's profit before tax dropped by 40 per cent YoY to Rs 352 crore during the quarter. Total income for the quarter was at Rs 714.71