Sustained advertising growth and subscription revenues contributed to broadcaster Sun TV Networks Ltd’s 9.74% rise in net profits to Rs. 187.62 crore, for the quarter ended 30th June 2011, compared to Rs. 170.95 crore, that it reported in the corresponding quarter, last year. The total income of the company was Rs. 471.28 crore, a 4.33% increase year on year, over last year’s first quarter income of Rs. 451.72 crore. Sun TV’s EBIDTA for the quarter grew by 1.67% to Rs.365.92 crore, compared to Rs. 359.90 crore in the same quarter, last year. Consolidated expenditure was Rs. 194.2 crore in the quarter ended 30th June 2011. The Earnings per share registered an year on year increase of 9.74% to Rs.4.76.
Against the total projected utilization of Rs.572 crore from the company’s initial public offering funds, an amount of Rs.355.77 crore has been utilized towards capitalization of subsidiaries, Rs.110.12 crore towards launch of new channels, purchase of new equipment and upgradation of old equipment, and Rs. 62.34 crore towards construction of owned corporate office; the remain has been invested in bank fixed deposits.
Sun TV network operates 20 satellite TV channels across Tamil, Telugu, Kannada and Malayalam, and also airs 43 radio stations, across India.