Sun TV will be in focus today after CLSA reiterated a Hold rating on the stock and maintained a target price of ₹655 per share, following the company’s FY25 performance update.
CLSA flagged that FY25 revenue came in below estimates, primarily due to a 4% year-on-year decline in advertising revenue.
On the subscription side, the company’s domestic subscriptions grew 1% YoY.
The company reported that IPL revenue stood at ₹640 crore for FY25, representing a 3% decline year-on-year.
Post the earnings review, CLSA has trimmed its FY26 and FY27 estimates: revenue, EBITDA, and net profit (NP) have all been cut by 3-6%.
However, despite the cuts, CLSA continues to expect a 9% earnings CAGR for FY25-FY28, and thus retained its Hold view on the stock.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
