Sea TV FY’11 net up 10.3% at Rs 16.6 million

MUMBAI: Agra-based multi-system operator (MSO) Sea TV Network has posted a net profit of Rs 16.6 million for the full-fiscal ended March 2011, up 10.28 per cent from Rs 15.05 million a year ago.

The MSO, which was listed on the BSE on 14 October 2010, has reported an income of Rs 99.69 million, 6.4 per cent higher from the previous fiscal.

Total expense grew 24.19 per cent in the fiscal to Rs 81.26 million, from Rs 65.43 million in the same period last year.

Sea TV’s payout to the pay channels during the fiscal stood at Rs 36.84 million, up from Rs 31.82 million in the year-ago period.
Profit from operations (before other income, interest, depreciation and exceptional items) was at Rs 35.68 million, from Rs 29.19 million in the previous fiscal.
Meanwhile, for the quarter ended 31 March 2011 the MSO’s net profit stood at Rs 2.35 million. Income from operations stood at Rs 25.59 million, while expenses were at Rs 27.43 million.

The MSO disclosed that out of Rs 502 million IPO money, it has
utilised Rs 202.25 million as on 31 March 2011.

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