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Dolat Capital: Sun TV Q2 Review - Acceleration In OTT Key For Re-Rating

Dolat Capital: Sun TV Q2 Review - Acceleration In OTT Key For Re-Rating

A person use a remote control to see various channels of Sun TV Network. (Source: BloombergQuint)
A person use a remote control to see various channels of Sun TV Network. (Source: BloombergQuint)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Sun TV Network Ltd.’s Q2 FY21 was in-line with core broadcast business revenue decline of 8%, Ebitda growth of 4% and adjusted profit after tax decline of 8% YoY.

Advertising revenues were down 29%, while subscription revenues were up 13.4% YoY.

Outlook remains upbeat with guidance for double-digit subscription revenue growth in FY21/FY22.

This is in spite of potential negative impact if any from new tariff order 2.0.

We remain conservative in our estimates.

Click on the attachment to read the full report:

Dolat Capital Sun TV Q2FY21 Result Update.pdf

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