Sun TV Q2 net profit up 27% at Rs 479 million

MUMBAI: Kalanithi Maran's Sun TV today reported its second quarter revenues of Rs 1059 million over the corresponding period in the previous fiscal where it stood at Rs 990.4 million.

Sun TV has posted a net profit of Rs 479.6 million for the quarter as compared to Rs 336.10 million for the corresponding period last year. Operating profit registered at Rs 829.4 million as against the previous fiscal where it recorded Rs 788.9 million.

Total income has increased from Rs 832.10 million for the quarter ended 30 September, 2005 to Rs 1059.00 million for this quarter.

The broadcaster incurred an expenditure of RS 229.6 million as compared to Rs 201.5 million for the corresponding period a year ago. The expenditure includes, cost of revenues Rs 46.80 million, employees remuneration and benefits Rs 106.10 million and other expenditure Rs 76.70 million.

Against the total projected utilisation of Rs 5220 million upto 31 March, 2007 from the IPO funds, an amount of Rs 740.60 million has been utilised towards capitalization of Kal Radio Ltd.

The balance proceeds from the IPO after meeting the IPO expenses, pending utilization have been invested in Fixed Deposits with the banks.

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