Sun TV Network, a television broadcasting company based in South India, registered 71.16% rise in net profit to Rs 1,023.00 million for the quarter ended Dec. 31, 2007 where as the same was at Rs 597.70 million for the quarter ended Dec. 31, 2006.
Total income surged 85.56% to Rs 2,319.90 million for the quarter ended Dec. 31, 2007 where as the same was at Rs 1,250.20 million for the quarter ended Dec. 31, 2006.
|Quarterly results (Rs in mn)|
|As at||December 2007(3)||December 2006(3)||%Change|
Net sales of the company zoomed 91% to Rs 2,177.80 million in the December 2007 quarter as compared with Rs 1,140.20 million in the corresponding quarter, last year.
The basic and diluted earnings per share (EPS), after extraordinary items, dropped 70.05% to Rs 2.60 for the quarter ended Dec. 31, 2007 as compared with Rs 8.68 last year.
The petition for amalgamation of the erstwhile Gemini TV (`GTPL`) and the Satellite Television business of Udaya TV (`UTPL`) was sanctioned by the high court of judicature at Madras, on Mar. 29, 2007, with an appointed dale of Apr. 01, 2006.
Accordingly, the financial results for the quarter ended Dec. 31, 2007 and year ended Mar. 31, 2007 include the results of GTPL and the Demerged Undertaking of UTPL and are therefore, not comparable with corresponding quarter and nine months period of the previous year, which does not include the figures of erstwhile GTPL and the demerged undertaking of UTPL. Previous periods / years figures have been regrouped / reclassified wherever necessary to conform to current period`s classification, the company said in a release.
Sun TV Network (SUNTV) is a television broadcasting company based in South India. Formerly known as Sun TV, it was incorporated on Dec. 18, 1985 as a private limited company. It went public in December 2005 and got its current name after the merger with Gemini and Udaya on Apr. 24, 2007.
The SunTV Network originally began as a Tamil satellite channel. It has expanded with other channels in other languages including Telugu, Malayalam and Kannada. The channels offered are SunTV, KTV, Sun Music, Sun News, Chutti TV, SuryaTV, GeminiTV, Teja News, Gemini News, Gemini Music, Gemini Cable Vision, UdayaTV, Udaya Movies, Udaya News, etc.
Shares of the company gained Rs 37.35, or 12.55%, to trade at Rs 335. The total volume of shares traded was 9,853 at the BSE. (12.16 p.m., Wednesday)