Chennai: Chennai-based television broadcaster Sun TV Networks Ltd announced a 20.54 % rise in second-quarter net profit to Rs130.56 crore, buoyed by advertising sales. Revenue rose 34.69% to Rs 320.39 crore in the three months ended 30 September from Rs237.88 crore a year earlier.
“The Sun results are in line with expectations. The healthy growth is mainly due to its DTH (direct-to-home) business, which has witnessed an impressive growth,” said Rohit Maheshwari, analyst with KR Choksey Shares and Securities Pvt. Ltd. “Another reason for good results is the low dependency on national level advertisers. With stable growth in regional advertising, when national advertisers are back in form, Sun will be in a better position than other players.”
Sun TV Networks currently operates 22 satellite television channels in four languages and 42 FM radio stations.
“The channels have been able to continue to maintain advertising growth from a well-diversified mix of clients (national, regional and local) across multiple product categories,” the company said in a release sent to the Bombay Stock Exchange.