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MUMBAI:
Sun TV has posted a net profit of Rs 1.02 billion for the
quarter ended 30 June, 2008 up from Rs 930.70 million in the
corresponding quarter last fiscal.
During
the period, the company's total income stood at Rs 2.40 billion,
a jump from Rs 2.17 billion in the year ago period.
The
company says that against the total projected utilisation
of Rs 5.72 billion (net of issue expenses) from the Initial
Public Offering ('IPO') funds, an amount of Rs 3.10 billion
has been utilised towards capitalisation of subsidiaries.
Rest
Rs 639.7 million has been used towards launch of new channels
and purchase of new equipment and upgradation of existing
equipment while Rs 238 million is towards construction of
own corporate office. The balance proceeds from the IPO after
meeting IPO expenses, pending utilization have been invested
in fixed deposits with banks, says an official release.
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