Sun TV Q3 profit little changed at Rs214 crore, misses estimates
Chennai: Kalanithi Maran’s Sun TV Network Ltd on Friday said net profit for the quarter ended 31 December 2015 was little changed from a year earlier on tepid growth in advertising revenue.
The Chennai-based company posted a net profit of Rs.214 crore, slightly down from Rs.216 crore a year ago. Net profit fell short of the estimate of Rs.227 crore in a Bloomberg survey of analysts.
Net sales rose to Rs.574 crore from Rs.552 crore a year ago. Analysts polled by Bloomberg had estimated sales of Rs.601 crore.
Advertising revenue increased 2% to Rs.298 crore in the quarter ended 31 December from year ago.
Sun TV share closed at Rs.329.70, up by 1.01 %, as the benchmark Sensex ended higher by 0.15 % at 22,986.12 points.