3 November 2018 Sun TV reported stellar subscription growth (+21% YoY), but ad growth suffered (meager +3% YoY), which led to revenues growing 11% YoY (2% miss) to INR7.4b. Subsequently, EBITDA grew 12% YoY to INR5.5b (in-line) supported by provision write backs. PAT stood at INR3.5b, up 23% YoY (9% beat) on healthy EBITDA growth coupled with lower depreciation and high other income (incl. PAT grew 28%/36%/42% YoY in 1HFY19. PAT to grow 16%/16%/20%% YoY (a) shift of Dussehra festival (INR70m), (b) impact of Kerala floods (hurting Onam festival boost of INR70m), and (c) running two prime-time slots without advertisement for two days, estimated ad revenue growth is 8% YoY. On the other hand, domestic subscription revenue growth of 21% YoY was driven by digitization 28%/20% YoY growth in cable/DTH revenue.