Sun TV Network Ltd’s fourth-quarter profit slumped 24% from a year earlier because of the revival of state-run Arasu Cable Corp. Ltd, a decline in ad revenue and a slump in its movie business.
Profit fell to Rs.159.03 crore in the three months ended 31 March from Rs.208.34 crore a year ago and was in line with the Rs.160.58 crore estimated in a Bloomberg poll of analysts. Income from operations fell 7.3% to Rs.427.07 crore from Rs.460.50 crore, in line with expectations of Rs.426.75 crore.
Sun TV shares have declined 34% in the past year, exceeding the 11.46% fall in the Sensex. On May 25th, 2012, the shares closed at Rs.251.05, marginally up 0.30%, on BSE. The benchmark Sensex was little changed at 16,217.82 points.
Profit fell to Rs.159.03 crore in the three months ended 31 March from Rs.208.34 crore a year ago and was in line with the Rs.160.58 crore estimated in a Bloomberg poll of analysts. Income from operations fell 7.3% to Rs.427.07 crore from Rs.460.50 crore, in line with expectations of Rs.426.75 crore.
Sun TV shares have declined 34% in the past year, exceeding the 11.46% fall in the Sensex. On May 25th, 2012, the shares closed at Rs.251.05, marginally up 0.30%, on BSE. The benchmark Sensex was little changed at 16,217.82 points.