Sun TV Network Ltd (Sun TV) has reported a 36% increase in net profit during the year ended March 31, 2011 to Rs 772.22 crore from Rs 567.38 crore. The company's total income rose by 38% to Rs 1,923.71 crore from Rs 1,395.01 crore.
The growth in revenues have been largely a function of the sustained advertising growth and subscription revenue contributed through a mix of clients across multiple product categories, according to company's statement to Bombay Stock Exchange.
In an other statement, the company has said agaist the projected utilisation of Rs 572 crore (net of issue expenses) from the intial public offering (IPO) funds, Rs 355.77 crore has been utlised towards capitalisation of subsidiaries, Rs 106.61 crore towards launch of new channels and purchase of new equipment and up-gradation of existing equipments and Rs 62.34 crore towards construction of owned corporate office.
The balance proceeds from the IPO after the IPO expenses, pending utilisation have been invested in fixed deposits with banks.