Sun TV net jumps 120%

CORPORATE SCORECARD

Sun TV Network posted a net profit growth of 120.39 per cent to Rs 93.07 crore during the first quarter ended June 30 compared with Rs 42.23 crore during the corresponding period of the previous year.

During the quarter, income from operations was Rs 202.34 crore (Rs 89.42 crore), up 126.28 per cent. Other income during the quarter under review was Rs 14.91 crore (Rs 9.62 crore), up 126.28 per cent. EPS stood at Rs 4.72 (Rs 2.18).

Sun TV had allotted 29,632,000 equity shares of Rs 10 each to the shareholders of Gemini TV Private Ltd and Udaya TV Private Ltd on April 9 this year towards amalgamation of the two entities with Sun TV. During the first quarter, Sun TV launched Chutti TV, an exclusive channel for kids. With the launch of the new channel, Sun TV offers 20 channels in four languages "� five in Tamil, two in Malayalam, and one each in Kannada and Telugu.

Against the total projected utilisation of Rs 572 crore (net of issue expenses) from the initial public offer funds, Rs 302 crore has been utilised towards capitalisation of subsidiaries.