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MUMBAI:
Sun TV Network's net profit has surged to Rs 1.19 billion
for the last quarter of the fiscal ended 31 March 2007, as
against Rs 289.3 million in the year ago period which did
not reflect the figures of Gemini TV and Udaya TV.
Total
income has also jumped significantly to Rs 3.96 billion for
the quarter. In the corresponding year ago period, it stood
at Rs 856.5 million.
The
accounts of the current year include the effect of amalgamation
of Gemini TV Pvt Ltd (GTPL) and demerger of Udaya TV Pvt Ltd
(UTPL). It is, thus, not comparable with those of the previous
year. Previous periods' figures have been regrouped or reclassified
wherever necessary, Sun informed the BSE.
Sun
TV's board, which met today, also declared a final dividend
of Re 1 on shares of Rs 5 each (20 per cent) on the expanded
capital after bonus issue for the financial year.
For
the entire fiscal, Sun's net profit stood at Rs 2.69 billion,
as against Rs 1.3 billion a year ago. Total income was Rs
7.26 billion, up from Rs 3.38 billion.
The
group's consolidated net profit was at Rs 2.47 billion for
the year ended 31 March 2007, up from the previous year's
Rs 1.27 billion.
Total
income was at Rs 7.19 billion, up from Rs 3.36 billion.
Sun
TV further informed BSE that it has utilised Rs 2.82 billion
of its initial public offering (IPO) proceeds toward capitalisation
of subsidiaries and Rs 14 crore for purchasing new equipment
and upgradation of existing ones. This is against the total
projected utilisation of Rs 5.22 billion up to 31 March 2007.
The balance proceeds from the IPO have been invested in fixed
deposits with banks, Sun said
Sun
TV had raised Rs 6 billion from the public issue.
Shareholders
of the company at a meeting on 6 August would consider splitting
of the company's equity shares in 1:2 ratio wherein one share
of Rs 10 each would be sub-divided into two shares of Rs 5
each, the company said.
The
allotment of bonus shares in the ratio 1:1 and payment of
dividend would also be considered at the ensuing AGM.
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