Sun TV

NDTV hits 5 per cent upper circuit as Adani Group gets SEBI nod to buy additional 26 per cent stake; the media stock can rally to Rs 450, chart suggests.

Stocks to watch today: HDFC, slated to merge with HDFC Bank, raised Rs 4,000 crore through a paper with a maturity of 21 months; Jet Airways plans to lease 6 to 8 planes as part of re-launch.

IPL valuation bump-up limits downside in stock

Dish Tv too has bounced back from its major support level and can gain up to 8 per cent. Nazara Technologies, however, looks weak.

Sun TV Networks Ltd on Friday reported a consolidated profit after tax (PAT) of Rs 395.55 crore for the second quarter ended September 30. The company had reported a PAT of Rs 335.02 crore in the July-September period a year ago, Sun TV Network said in a BSE filing. Its revenue from operations was Rs 848.67 crore during the period. It was Rs 768.69 crore in the corresponding quarter of the previous fiscal. Sun TV Networks total expenses were Rs 385.20 crore in Q2 of FY 2021-22. Sun TV Networks said due to the outbreak of the COVID-19 pandemic, and the consequent lockdown has impacted the regular business operations of the group. "The results for the quarter and six months ended September 30, 2021, are therefore not comparable with those for the earlier periods presented, Sun TV said. The results for the quarter and six months ended September 30, 2021, includes income from the company's IPL franchise SunRisers Hyderabad for season 2021 (partial) of Rs 51.63 crore and corresponding

Muted dividend amid a mountain of cash did not go well with investors

The advertisement revenues for the year was at Rs 994.03 crore as against Rs 1,336.91crore for the previous year

Subscription growth is expected to remain healthy in the near term

Persistent weakness in advertising revenue, challenging outlook may drag company's earnings

Rs 250 crore will be spent on its Sun NXT initiative, sizeable investments would go toward Bengali and Marathi, which are potentially larger markets than Malayalam

The Sun TV stock ended 0.71 per cent down, at Rs 549 per share, on BSE on February 8

Commenting on the advertisement market, the company said that in October advertisement revenue recovered to over 80 per cent of pre-Covid levels

The promoters had decided to keep their salaries at the current level three years ago.

Further uptick depends on recovery in advertising rates

The media conglomerate said that revenues are close to 75 per cent of the pre-COVID levels

Speaking to investors, S L Narayanan, Group CFO, Sun TV Network said, capex depends on how quickly the theaters restart

40% drop in revenue, largely due to absence of IPL and movie distribution

The Sun TV channel has seen its gross rating points (GRPs) rise to 1,600 in the Pongal festival in January, from less than 1,000 in June 2019

Once the banking stocks start chipping in, the Nifty is likely to reclaim 12,220 - 12,300 in coming weeks

Investors should await ad revenue growth revival before tuning in