Sun TV Sees Muted Recovery In Q3: Dolat Capital
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Dolat Capital Report
Sun TV Network Ltd.’s Q3 FY21 was ahead of estimates led by higher-than expected revenue/Ebitda in Indian Premiere League.
Core broadcast business revenue/Ebitda/adjusted profit after tax were down 6.4/down 10.2/up 2.3% YoY.
Advertising/domestic subscription revenues were down 9.5%/up 3% YoY.
The company declared an interim dividend of five rupees per share (versus Rs 7.5 per share last year).
Management remains committed on acceleration of investments in digital business from future-proofing perspective. But, there had been disconnect and delays in intent and execution. Thus delivery would be crucial.
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