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Sun TV Network Ltd, one of the largest television broadcasters in the country, has reported a net profit of Rs 169 crore for the quarter ended September 30, 2013, against Rs 151.65 crore for the corresponding previous-year quarter.
Total income grew 14 per cent to Rs 504 crore (Rs 443 crore). The board has declared an interim dividend of Rs 2.50 per share (50 per cent on a face value of Rs 5 a share)
Sun TV Network operates satellite TV channels across four regional languages — Tamil, Telugu, Kannada and Malayalam — and FM radio stations across the country.
Amit Patil, Research Analyst at Angel Broking, said the company’s top-line and bottom-line performances were lower than street estimates primarily on account of 4.5 per cent drop in advertising revenue to Rs 234 crore.
Advertising revenue was hit due to a transition to new TRAI dispensation, which limits ad time to 12 minutes an hour.
However, the management has assured a revival in advertising revenue in the following quarter and maintained its yearly guidance of 12 per cent growth in advertising revenue for the full year.
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