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SUN TV Announces Quarterly Results (3QFY19); Net Profit Up 31.6%

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SUN TV Announces Quarterly Results (3QFY19); Net Profit Up 31.6%
Mon, 11 Feb

SUN TV has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

SUN TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m6,8337,4969,04520.7%32.4%
Other incomeRs m291621516-17.0%77.2%
TurnoverRs m7,1248,1179,56017.8%34.2%
ExpensesRs m1,9121,9562,37321.3%24.1%
Gross profitRs m4,9205,5406,67220.4%35.6%
DepreciationRs m1,1458191,761115.0%53.8%
InterestRs m16724.6%1083.3%
Profit before taxRs m4,0665,3365,4201.6%33.3%
TaxRs m1,3971,8231,9074.6%36.5%
Profit after taxRs m2,6703,5133,5130.0%31.6%
Gross profit margin%72.073.973.8
Effective tax rate%34.334.235.2
Net profit margin%37.543.336.7
* 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 grew 32.4% on a year-on-year (YoY) basis. The expenses were up by 24.1% YoY during the same period.
  • The company's operating profit increased by 35.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 73.8% in 3QFY19 as against 72.0% in 3QFY18.
  • Depreciation charges increased by 53.8% and finance costs increased by 1083.3% YoY, respectively.
  • Other income increased by 77.2% YoY during the quarter.
  • Net profit for the quarter increased by 31.6% YoY. Net profit margins during the quarter declined from 37.5% in 3QFY18 to 36.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 20.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.3% QoQ during the same period.
  • The company's operating profit declined by 20.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 73.8% in 3QFY19 as against 73.9% in 2QFY18.
  • Net profit for the quarter increased by 0.0% QoQ, while net profit margins declined from 43.3% in 2QFY18 to 36.7% in 3QFY19.

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 up from Rs 972.5 to Rs 574.6, registering a Loss of Rs 397.9 or around 40.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,726.6 (up 0.2%). Over the last one year it has moved up from 6,575.3 to 7,726.6, a gain of 1,151 points (up 17.5%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 574.6, the price to earnings (P/E) ratio of SUN TV stands at 16.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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