Sun TV Network reported a 42.70 per cent growth in its net profit for the quarter ended June 30, 2010 at Rs 170.96 crore as compared to Rs 119.80 crore, a year ago. Company's revenue rose by 53.12 per cent to Rs 440.44 crore from Rs 287.65 crore.
"Growth in revenue have been largely a function of sustained advertising growth and subscription revenue contributed through a diversified mix of clients across multiple product categories," a company statement said.
The company also said against the total projected utilsation of Rs 572 crore (net of issue expenses) from the initial public offer (IPO) funds, Rs 355.77 crore was utilised towards capitalisation of subsidiaries, Rs 103.68 crore towards launch of new channels and purchase of new equipment and up-gradation of existing equipment and Rs 62.34 crore towards construction of owned corporate office.
The balance proceeds from the IPO after meeting the IPO expenses, pending utilisation have been invested in fixed deposits with banks, it said.
The company's shares settled at Rs 461, up 3.29 per cent on the Bombay Stock Exchange today.
