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Sun TV share falls 3% after Q2 profit slips to Rs 345 crore; CLSA, Nomura retain buy

The company's profit for the quarter ended September 30, 2020 declined 5.62 percent to Rs 345.91 crore, from Rs.366.51 crore in the same quarter a year ago. CLSA and Nomura maintain buy.

November 13, 2020 / 09:41 AM IST
 
 
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Sun TV Network share price was down 3 percent intraday on November 13 after the company reported a decline in Q2 profit.

The company's profit for the quarter ended September 30, 2020, declined 5.62 percent to Rs 345.91 crore from Rs 366.51 crore in the same quarter a year ago.

Revenue for the quarter was at Rs 756.16 crore as against Rs 773.93 crore in the year-ago. Total income for the quarter was Rs 807.71 crore as against Rs 846.07 crore a year ago.

Sun TV's subscription revenues for the quarter were up 14 percent at Rs 427.04 crore from Rs 375.65 crore for the corresponding quarter ended September 2019 while EBITDA for the quarter was up by 7.10 percent at Rs 502.03 crore from Rs 468.74 crore a year ago.