SUN TV reported better-than-expected operating profit, which was driven by beat in the IPL. IPL Revenue/EBITDA was 41%/55% higher than estimates. Ex-IPL EBITDA was down by 3% and EBIT was lower by 8%, impacted by higher amortization expenses. Ad growth of 17% was in line with estimate while domestic subscription growth of 16% was lower than our estimate of 20%. Management attributed higher base of subscription...