Sun TV Network shares climb after strong Q1 results

$SUNTV etwork rose as much as 6-7% in early trade on Thursday after the broadcaster posted a nearly 17% year-on-year jump in consolidated net profit for the June quarter. The company reported a net profit of Rs 618.8 crore, up from Rs 529.2 crore a year earlier. Consolidated revenue grew 13% to Rs 1,457.8 crore. Domestic subscription revenue rose about 3% to Rs 485.46 crore, while advertising revenue stood at Rs 282.51 crore. The stock touched Rs 511.80 on the NSE before paring some gains. The board also declared an interim dividend of Rs 5 per share. Investors welcomed the solid earnings and dividend announcement, boosting sentiment around the media major.