Sun TV Network Ltd's Q3FY19 standalone net profit rises 31.6% yoy to Rs351cr: Beats Estimates

The company’s standalone revenue stood at Rs904.45cr, up 32.4% yoy and 20.7% qoq.

Feb 08, 2019 11:02 IST India Infoline Research Team

Sun TV Network Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 904.45 32.4
EBITDA 667.20 35.6
EBITDA Margin (%) 73.8 176
Net Profit (adjusted) 351.33 31.6
***EBITDA margin change is bps

Sun TV Network Ltd’s revenue grew by 32.4% yoy and 20.7% qoq to Rs904.45cr. EBITDA came in at Rs667.2cr, up 35.6% yoy and 20.4% qoq. EBITDA margin expanded by 176bps yoy and contracted by 14bps qoq to 73.8%. Adjusted PAT grew by 31.6% yoy and remained flat on qoq basis to Rs351.33cr. Revenue and EBITDA came in above estimates of Rs830cr and Rs612cr, respectively.

• Subscription revenue grew by ~24% yoy to Rs350cr in Q2FY19.
• Employee benefit expenses stood at 7.9% of sales vs. 10.6% yoy.
• Savings in employee benefit expenses have been partially offset by higher operating expenses, which stood at 13.6% of revenue vs. 11.9% yoy.
• Other expenses stood at 4.7% of sales vs. 5.6% yoy, aiding the growth in profitability.
• Other income stood at Rs52cr vs. Rs29cr yoy.
• Tax rate for the quarter stood at 35.2% vs. 34.3% yoy. 





Technical View:

Sun TV Network Ltd ended at Rs. 520.55, down by 12.5 points or 2.34% from its previous closing of Rs. 533.05 on the BSE.
The scrip opened at Rs. 535 and touched a high and low of Rs. 535.35 and Rs. 503.05 respectively. A total of 17,10,372 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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