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sunnetwork.in

About Sun TV Network

Sun TV Network provides entertainment and media services including south Indian tv serials, drama, shows, television programs. It is based in Chennai, India.

Sun TV Network Headquarters Location

73, MRC Nagar Main Road, MRC Nagar

Chennai, 600 028,

India

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Latest Sun TV Network News

Sun TV Jumps On Q1 Beat, Analysts See Movie Business, Viewership As Drivers

Aug 16, 2022

12:41 PM IST, 16 Aug 2022 12:41 PM IST, 16 Aug 2022 12:41 PM IST, 16 Aug 2022 Save Shares of Sun TV Network Ltd. rose as much as 5%, the most in three weeks, after the company's first-quarter profit beast estimates.The regional languages-TV channels operator also declared an interim dividend of Rs 5 per equity share for the financial year 2022-23. The company announced results post market hours on Friday. Q1 FY23 Results (Standalone, YoY)Net profit at Rs 491.7 crore vs Rs 389.8 croreRevenue at Rs 1,193.9 crore vs R... Shares of Sun TV Network Ltd. rose as much as 5%, the most in three weeks, after the company's first-quarter profit beast estimates. The regional languages-TV channels operator also declared an interim dividend of Rs 5 per equity share for the financial year 2022-23. The company announced results post market hours on Friday. Q1 FY23 Results (Standalone, YoY) Net profit at Rs 491.7 crore vs Rs 389.8 crore Revenue at Rs 1,193.9 crore vs Rs 810.1 crore Ebitda at Rs 763.8 crore vs Rs 495 crore Ebitda margin at 63.98% vs 61.1% Trading volume is nearly five times the 30-day average. Share price crossed the 200-day simple moving average, indicating potential upward price momentum. The relative strength index of the stock is at 71, suggesting it may be overbought. Of the 19 analysts tracking the company, 14 maintain 'buy', four suggest 'hold' and one recommends 'sell', according to Bloomberg data. The return potential of the stock is 13.9%. Analysts said the recovery in the movie business, improvement in viewership share and high valuations of its IPL team in the recently concluded auctions as positive triggers for the company. Here's a gist of the brokerages' view on the company's earnings. Motilal Oswal Q1 performance was healthy despite weakness in ad revenue growth. Higher contribution from movie business is a positive factor. Loss in market share and delayed OTT investments remain key concerns. Upbeat valuation in the auction of new IPL teams makes the stock's valuation compelling. Expects Sun TV to maintain growth momentum in viewership. Raises FY2022-23 EPS estimate by 4% and factors in 6% CAGR over FY22-24. Emkay Reiterates 'hold' and maintains target price at Rs 470, an implied downside of 1.51%. Believes that Sun TV's ad revenue print was better than Zee Entertainment due to improved ad spends by regional advertisers, improvement in viewership share in Tamil and lack of FTA channel-linked impact. Strong theatrical revenue from Tamil movie 'Beast' aided movie production segment while weak performance by its IPL team weighed on revenue. Expects sustained recovery in ad revenue due to improved spends and stable market share in Tamil. ICICI Direct Q1 performance was strong from earnings/margin front. Believes that overall viewership share improvement is a positive trigger. Expects recovery in Tamil/Telugu/Kannada markets in the upcoming quarters. See the ramp up in SunNXT content is a positive as the company lags in spending on OTT. Source: Exchange filing, Brokerage notes, Bloomberg

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  • Where is Sun TV Network's headquarters?

    Sun TV Network's headquarters is located at 73, MRC Nagar Main Road, MRC Nagar, Chennai.

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