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Help Sun TV Q3 net slips, spends Rs 1.1 bn in launch of new channels
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MUMBAI: Southern media major Sun TV Network has posted a net profit of Rs 1.68 billion for the fiscal third quarter ended December, slipping 25.53 per cent from the year-ago period.

The company, which operates a clutch of channels across four languages and 43 FM stations, has reported revenue of Rs 4.25 billion compared to Rs 5.98 billion in the prior year representing a 29 per cent decrease.

Sun TV Network has utilised Rs 3.56 billion towards capitalisation of its subsidiaries out of the s 5.72 billion fit had raised from an initial public offering (IPO), Rs 1.1 billion towards launch of new channels and purchase of new equipments. and Rs 623.4 million for construction of own corporate office.

The company has launched four HD channels in Tamil and Telugu, four ad-free action movie channels and three pay channels.

Ebitda income for the quarter stood at Rs 3.41 billion.

The company had released blockbuster movie Enthiran with Tamil superstar Rajnikanth, which earned Rs 1.79 billion for the company.

Sun said while maintaining last year’s advertising revenues, subscription income has made impressive gains both nationally as well as internationally as it grew 19 per cent. DTH revenue also grew 19 per cent in the quarter.

The board has declared a third interim dividend of Rs 2.50 per share on a face value of Rs 5 per share. With this, the total dividend declared by the board so far for the financial year 2011-12 is Rs 8.75 per share.

Sun said in the post digitisation scenario, both DTH and cable network companies will record big gains in market shares. "This in turn will prove to be an important upside to all broadcasters, who today are unable to capture the full revenue potential of the addressable market."

Shares of the company closed at Rs 340.50 per share, down 3.81 per cent from the previous close.

Source: Indiantelevision.com

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when starting sun action channel
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