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Sun TV Network Q3 PAT seen down 13.4% at Rs 195 cr
South based Sun TV Network is expected to report a profit after tax of Rs 195 crore in the October-December quarter of FY12, a fall of 13.4% as compared to Rs 225.5 crore in the year ago quarter.
South based Sun TV Network is expected to report a profit after tax of Rs 195 crore in the October-December quarter of FY12, a fall of 13.4% as compared to Rs 225.5 crore in the year ago quarter.
Revenues are expected to fall 21% to Rs 472 crore from Rs 598 crore year-on-year. EBITDA too is seen falling 24.5% to Rs 379 crore from Rs 502 crore YoY.
Operating profit margin is expected to be at 80.3% in the December ended quarter of FY12 versus 83.9% in the corresponding quarter of last fiscal and 81% in previous quarter.
On quarter-on-quarter basis, revenues are seen going up by 4.6% and profit after tax is likely to go up 8.3%.
Watch out for:
- YoY numbers will look lower because company launched Endhiran last quarter - hence bump up
- Advertisement growth could be subdued - last quarter company's advertisement grew 2.2% YoY only to Rs 235 crore due to environment
- Company had guided for 6 channel launches in FY12 - which is expected to add to advertising revenue
- Subscription revenue is the most important to watch out for due to impact of launch Aarasu cable
- In Q2FY12 , sub revenue +1.6% YoY to Rs 126 crore but fell 10% QoQ with analogue down by 13% YoY and 16% QoQ to Rs 47 crore on account of Arasu cable
- Aarasu began operations on September 2nd - providing free cable in Tamil Nadu
- DTH grew 13% to Rs 79 crore (there is a 30% entertainment tax levied by the state on DTH operators)
