INSUBCONTINENT EXCLUSIVE:
Shares of Sun TV Network plunged over 5 per cent on Monday even as the media and entertainment company earned a higher profit for April-June
The firm reported a 62.59 per cent year-on-year (YoY) growth in net profit at Rs 409.14 crore for the quarter to June
It had posted a net profit of Rs 251.64 crore in the same quarter last year.
The scrip was trading 5.37 per cent down at Rs 783 at around
The BSE Sensex came down 206 points, or 0.55 per cent, to 37,662 at around the same time.
Revenue jumped 42.48 per cent YoY to Rs 1,120.39
Subscription revenue growth trend and full benefits from Arasu are yet to come in
target price to Rs 979 from Rs 1,124 earlier
