SUN TV Announces Quarterly Results (4QFY19); Net Profit Down 2.3%

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SUN TV Announces Quarterly Results (4QFY19); Net Profit Down 2.3%
Mon, 27 May

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

SUN TV Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,1709,0458,889-1.7%24.0%
Other incomeRs m36851667330.4%82.6%
TurnoverRs m7,5389,5609,5620.0%26.8%
ExpensesRs m1,9462,3732,80518.2%44.2%
Gross profitRs m5,2246,6726,084-8.8%16.5%
DepreciationRs m1,1901,7612,41937.4%103.2%
InterestRs m971-84.5%-87.5%
Profit before taxRs m4,3935,4204,336-20.0%-1.3%
TaxRs m1,4961,9071,506-21.0%0.7%
Profit after taxRs m2,8983,5132,831-19.4%-2.3%
Gross profit margin%72.973.868.4
Effective tax rate%34.035.234.7
Net profit margin%38.436.729.6
* 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 24.0% on a year-on-year (YoY) basis. The expenses were up by 44.2% YoY during the same period.
  • The company's operating profit increased by 16.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 68.4% in 4QFY19 as against 72.9% in 4QFY18.
  • Depreciation charges increased by 103.2% and finance costs declined by 87.5% YoY, respectively.
  • Other income increased by 82.6% YoY during the quarter.
  • Net profit for the quarter declined by 2.3% YoY. Net profit margins during the quarter declined from 38.4% in 4QFY18 to 29.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.2% QoQ during the same period.
  • The company's operating profit declined by 8.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 68.4% in 4QFY19 as against 73.8% in 3QFY18.
  • Net profit for the quarter declined by 19.4% QoQ, while net profit margins declined from 36.7% in 3QFY18 to 29.6% in 4QFY19.

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 950.1 to Rs 536.8, registering a Loss of Rs 413.3 or around 43.5%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,502.7 (up 0.1%). Over the last one year it has moved up from 7,022.6 to 7,502.7, a gain of 480 points (up 6.8%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 536.8, the price to earnings (P/E) ratio of SUN TV stands at 15.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.5 times.

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