Sun TV Q3 profit little changed at Rs214 crore, misses estimates
Profit during the December quarter was little changed from a year earlier on tepid growth in advertising revenue
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 ₹ 214 crore, slightly down from ₹ 216 crore a year ago. Net profit fell short of the estimate of ₹ 227 crore in a Bloomberg survey of analysts.
Net sales rose to ₹ 574 crore from ₹ 552 crore a year ago. Analysts polled by Bloomberg had estimated sales of ₹ 601 crore.
Advertising revenue increased 2% to ₹ 298 crore in the quarter ended 31 December from year ago.
Sun TV share closed at ₹ 329.70, up by 1.01 %, as the benchmark Sensex ended higher by 0.15 % at 22,986.12 points.
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