SUN TV Announces Quarterly Results (1QFY20); Net Profit Down 6.7%

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SUN TV Announces Quarterly Results (1QFY20); Net Profit Down 6.7%
Tue, 13 Aug

SUN TV has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SUN TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m11,2048,88911,01423.9%-1.7%
Other incomeRs m390673567-15.7%45.4%
TurnoverRs m11,5949,56211,58121.1%-0.1%
ExpensesRs m3,8592,8054,18549.2%8.4%
Gross profitRs m7,3456,0846,82912.2%-7.0%
DepreciationRs m1,4682,4191,585-34.5%8.0%
InterestRs m01211790.9%0.0%
Profit before taxRs m6,2674,3365,79133.5%-7.6%
TaxRs m2,1751,5061,97231.0%-9.3%
Profit after taxRs m4,0912,8313,81934.9%-6.7%
Gross profit margin%65.668.462.0
Effective tax rate%34.734.734.1
Net profit margin%35.329.633.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 1.7% on a year-on-year (YoY) basis. The expenses were up by 8.4% YoY during the same period.
  • The company's operating profit declined by 7.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 62.0% in 1QFY20 as against 65.6% in 1QFY19.
  • Depreciation charges increased by 8.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 45.4% YoY during the quarter.
  • Net profit for the quarter declined by 6.7% YoY. Net profit margins during the quarter declined from 35.3% in 1QFY19 to 33.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 23.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 49.2% QoQ during the same period.
  • The company's operating profit declined by 12.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 62.0% in 1QFY20 as against 68.4% in 4QFY19.
  • Net profit for the quarter increased by 34.9% QoQ, while net profit margins increased from 29.6% in 4QFY19 to 33.0% in 1QFY20.

To see how SUN TV has performed over the last eight quarters,please visit here.

SUN TV Share Price Performance

Over the last one year,SUN TV share price has moved down from Rs 762.9 to Rs 443.5, registering a Loss of Rs 319.4 or around 41.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,639.3 (down 1.8%). Over the last one year it has moved up from 7,514.1 to 7,639.3, a gain of 125 points (up 1.7%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 443.5, the price to earnings (P/E) ratio of SUN TV stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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