Mumbai: Shares of Sun TV today fell by over 5 per cent after the company reported a marginal increase in its net profit for the first quarter ended June 30, 2014.
Sun TV's scrip ended with a loss of 5.50 per cent at Rs. 396.85 on the BSE. During the day, it fell by 5.79 per cent to Rs. 395.60.
At the NSE, the scrip plunged 5.20 per cent to Rs. 397.40.
“Sun TV's revenue was below estimate,” brokerage firm Motilal Oswal said in a report.
Sun TV had on Friday reported a marginal increase in its net profit at Rs. 165.64 crore for the first quarter ended June 30, 2014.
The company had reported a net profit of Rs. 164.44 crore for the April-June quarter last year.
Income from operations of the Kalanidhi Maran-owned Sun TV Network in the quarter under review increased 5.27 per cent to Rs. 633.58 crore as against Rs. 601.85 crore in the corresponding quarter last year, the company had said.
