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Earnings Digest: Sun TV Network, Radio Mirchi

Sun TV Profits Up 35% An exceptional quarter for broadcaster Sun TV Networks Ltd whose revenues are up sequentially by 45.88 percent for the quarter ended December 2009 to Rs 3.95 billion. EBITDA for the quarter stood at 79 percent at Rs 3.12 billion. Sun TV Network, owned by Kalanithi Maran, runs two dailies, a radio network, TV channels and a DTH division Sun Direct. For more on the group, read MediaNama. Details: Financials | Release Net Profit is higher by 35.37 percent at Rs 1.51 billion sequentially, compared to Rs. 1.1 billion in the September quarter. EPS for the quarter ending December 2009 is Rs 3.86 an increase of 35.37 percent as compared to the same quarter of the previous quarter. Radio business KAL Radio has turned EBITDA positive. From the total projected utilisation of Rs 57.2 billion from the IPO funds, Rs 3.56 billion was utilised towards capitalisation of subsidiaries, Rs 87.3 million to launch new channels, purchase new equipments and up-gradation of existing equipments. Rs 6.23 billion  towards construction of corporate office. The balance from the IPO fund has been invested in fixed deposits with banks. Sun TV  announced that it has floated a wholly owned subsidiary, Sun TV Network Europe Limited to broadcast and distribute its channel in UK and Europe. Key Corporate Developments In The December Quarter The company announced that it will restructure its distribution business to focus at penetration of the network’s channels in India and internationally via  DTH, IPTV, HITS and MMDS platforms. The…

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