{"id":84199,"date":"2023-11-13T23:53:56","date_gmt":"2023-11-14T04:53:56","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/sun-tv-shares-rise-after-reporting-strong-q2-earnings\/"},"modified":"2023-11-13T23:53:58","modified_gmt":"2023-11-14T04:53:58","slug":"sun-tv-shares-rise-after-reporting-strong-q2-earnings","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84199","title":{"rendered":"Sun TV shares rise after reporting strong Q2 earnings"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Sun TV Networks Ltd, a prominent Indian media conglomerate, has reported a substantial year-on-year (YoY) growth in its second-quarter profit after tax (PAT), which has led to an early morning surge in its share price today. The broadcaster’s operational revenue witnessed a significant increase, attributed to the performance of its diverse portfolio that includes satellite television channels, FM radio stations, digital OTT platform Sun NXT, involvement in the movie industry, and stakes in two cricket franchises.<\/p>\n

The company announced on Friday that its Q2 PAT reached \u20b9464.54 crore, showing a 14% YoY growth. This financial performance was bolstered by a 27% rise in operational revenue to \u20b91,048.45 crore. However, it’s notable that total expenses also went up by nearly 46% to \u20b9541.06 crore during the quarter. The earnings included income from SunRisers Hyderabad and SunRisers Eastern Cape cricket teams for the 2023 season.<\/p>\n

On Monday, following the robust Q2 results, Sun TV’s shares experienced an approximate 3% rally in early trading hours and were seen trading at \u20b9667.23 on the National Stock Exchange (NSE) by mid-morning. A recent analysis from Motilal Oswal has given the stock a ‘Buy’ rating with a target price of \u20b9750 per share. The recommendation is based on the company’s strong EBITDA growth of 36.5% YoY, primarily driven by their movie sector’s performance.<\/p>\n

Investors have responded positively to Sun TV Network’s growth trajectory over the past six months, during which the stock has returned an impressive 44.39%, significantly outperforming the Nifty50 index’s return of 6.12%.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Sun TV Networks Ltd, a prominent Indian media conglomerate, has reported a substantial year-on-year (YoY) growth in its second-quarter profit after tax (PAT), which has led to an early morning surge in its share price today. The broadcaster’s operational revenue witnessed a significant increase, attributed to the performance of its diverse portfolio that […]<\/p>\n","protected":false},"author":1,"featured_media":657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-84199","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nSun TV shares rise after reporting strong Q2 earnings | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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