Sun TV Network shares declined over 4 percent in Friday’s session, a day after the company reported a fall in its profit for the fourth quarter.
The company on Thursday reported a decline of 2.30 percent in its standalone profit after tax at Rs 283.07 crore for the March quarter. Sun TV had posted a net profit of Rs 289.76 crore during the same quarter in 2018.
The company’s revenue from operations during the fourth quarter was up 23.98 percent at Rs 888.88 crore, against Rs 716.95 crore in the corresponding quarter of the previous fiscal.
Total expenses stood at Rs 522.52 crore as against Rs 314.47 crore, up 66.15 percent YoY.
Shares of Sun TV traded at Rs 518.30, down 5.39 percent around 11:02 am on BSE.   
Read EquityPandit’s Technical Analysis of Indian Stock Market