Sun TV shares fell 6%, what is the reason?

Sun TV shares fell 6%, what is the reason?

Shares of Sun TV fell by 11 per cent on Wednesday. The day before, Sun TV released its September quarter results. The company's results were flat as a large part of the revenue was lost due to high expenses.

Sun TV released quarterly results on Tuesday. The consolidated net profit of the company grew by 1.04 per cent to Rs 368.79 crore for the quarter ended September 30. In the same quarter a year earlier, the company's profit after tax PAT was Rs 364.99 crore.

Sun TV said that in the September quarter, the company's total income grew by 6.79 percent to Rs 900.74 crore. Whereas in the same quarter last year it was 843.44 crores.

In the second quarter of this fiscal year, the company's expenses have increased significantly. The company's total expenses in the September 2019 quarter increased by 65.95 per cent to Rs 499.54 crore. The company's expenditure in the same quarter a year ago was Rs 301.01 crore.

Meanwhile, the company said that a board meeting is going to be held on Thursday. In this, 50 percent interim dividend can be approved. Accordingly, an interim dividend of Rs 2.50 can be given for every 5 rupees in 2019-20.