12 August 2018 SUNTV reported splendid 1QFY19 results, led by a steady growth in ad/subscription revenue (in-line) and a positive surprise from the IPL business. IPL revenue at INR3.9b (INR1.4b in 1QFY18) grew by 1.7x YoY, leading to a robust growth of 42% YoY in standalone revenue to INR11.2b (+56% QoQ, 15% beat). This provided an impetus to the steep growth of 64% YoY (41% QoQ) in EBITDA to INR7.3b (23% beat) and margin expanded by 860bp YoY to 65.6%. Consequently, PAT surged by 63% YoY (17% beat) to INR4.1b. The IPL business turned profitable with a bang PBT of INR2b v/s INR225m in 1QFY18 (43% beat), driving margins. Ad revenue jumped up by 20% YoY to INR3.6b (in-line), mainly on the back of a low base (GST impact). Digitization led to a growth of 21% YoY in DTH revenue and a growth of 4% YoY in cable revenue drove the uptick of 15% YoY in domestic subscription revenue (INR3.