Chennai: The Kalanithi Maran-promoted Sun TV Network Ltd missed analyst estimates and reported a lower profit for the quarter ended 30 September.

The Chennai-based company posted a net profit of Rs154.47 crore for the quarter, compared with Rs169.16 crore a year ago.

A Bloomberg poll of analysts had estimated a net profit of Rs178.1 crore.

Net sales increased 9.13% to Rs509.02 crore, below analysts’ estimate of Rs516.1crore.

Revenue growth was muted as advertising did not grow as anticipated and revenue from the cable television business was flat. Revenue from advertising was up 11.43% to Rs260.26 crore and revenue from the cable business came in at Rs49 crore for the quarter. Revenue from direct-to-home services increased 20% to Rs395.81 crore.

“We expect advertisement revenues to improve and Telugu movies bought will boost our Telugu television channels TRP (Television Rating Point) ratings in Andhra Pradesh and Telangana," said S.L. Narayanan, chief financial officer, Sun Group, in an earnings conference call with analysts.

On Friday, Sun TV shares closed at Rs325.10, down 0.16%, while the benchmark index Sensex closed at 27,868.63 points, down 0.17%.

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