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Sun TV plummets 11% on weak Q2 numbers

The company's total expenses rose 65.95 per cent to Rs 499.54 crore during the quarter under review as against Rs 301.01 crore a year ago.

ETMarkets.com|
Updated: Nov 13, 2019, 03.39 PM IST
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The stock saw a spurt in volume by 1.15 times in early trade.
Shares of Sun TV dived 11 per cent in Wednesday's session, a day after the company posted an almost flat September quarter earnings largely due to an increase in expenses.

Sun TV Network on Tuesday reported a marginal increase of 1.04 per cent in consolidated profit after tax (PAT) at Rs 368.79 crore for the second quarter ended September 30. The company had reported a PAT of Rs 364.99 crore in the July-September period a year ago.

Its total income rose 6.79 per cent to Rs 900.74 crore during the period under review as against Rs 843.44 crore in the corresponding quarter of the previous fiscal, Sun TV Network said.

The company's total expenses rose 65.95 per cent to Rs 499.54 crore during the quarter under review as against Rs 301.01 crore a year ago.

Meanwhile, the company said that its board in a meeting held on Tuesday approved an interim dividend of 50 per cent, which is Rs 2.50 per equity share of Rs 5 each for 2019-20.

The shares of the company closed 11.32 per cent lower at Rs 469.10 on BSE.
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