Moneycontrol
Feb 12, 2018 12:46 PM IST | Source: Moneycontrol.com

Sun TV Network gains 3% post Q3 numbers; IDFC Securities keeps outperform

The company board at its meeting held on February 09 declared third interim dividend of Rs 2.5 per equity share of Rs 5 each (i.e. 50 percent) for the financial year 2017-18.

 
 
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Shares of Sun TV Network gained 3.2 percent intraday Monday on the back of strong performance in the quarter ended December 2017.

The company has posted 11 percent jump in its Q3FY18 net profit at Rs 266.97 crore against Rs 240.09 crore in the same quarter last year.

The company board at its meeting held on February 09 declared third interim dividend of Rs 2.5 per equity share of Rs 5 each (i.e. 50 percent) for the financial year 2017-18.

Broking house IDFC Securities has kept outperform rating on Sun TV with a target of Rs 1,138 per share.

The company has entered a high-growth phase, which is driven by revival in advertisement revenue growth. The company has better return ratio & FCF to EBIT ration then Zee Entertainment, it added.

graph_sun tv

At 12:36 hrs Sun TV Network was quoting at Rs 989.35, up Rs 16.85, or 1.73 percent on the BSE.

Posted by Rakesh Patil
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