Sun TV net up 9% to Rs 112 cr

Sun TV Network has reported a 9 per cent growth in the net profit for the quarter ended December 2008 to Rs 112 crore, compared to Rs 102 crore for the same period last year. The company’s income from operations during the quarter rose by 24 per cent to Rs 270 crore from Rs 217 crore.

Against the total projected utilisation of Rs 572 crore (net of issue expenses) from the initial public offering funds, Rs 310.36 crore has been utilised towards capitalisation of subsidiaries; Rs 76.16 crore towards launch of new channels and purchase of new equipments and up-gradation of existing equipment.

 

The company spent Rs 44 crore to construct its own corporate office in Chennai.

During the company’s board meeting which was held on January 27, 2009 the company’s board of directors declared an interim dividend of Rs 1.50 per cent.