The Chennai-based television broadcasters in India Sun TV Networks Ltd. posted fourth-quarter stand-alone net profit of Rs.177.50 crore or Rs.4.50 per share, compared with Rs.159.03 crore or Rs.4.04 per share in the corresponding quarter last year, reflecting a growth of 12 percent.
Its quarterly income from operations grew by 11 percent to Rs.472.67 crore from the Rs.427.01 crore in the year-ago quarter, while other income was Rs.21.63 crore, compared with Rs.15.08 crore for the same period last year.
The company reported a growth of 15 percent in the advertisement income to Rs.269.40 crore for the quarter ended March 31, 2013.
DTH subscription income was up by 16 percent Quarter-over-quarter and 12 percent year-on-year, while RM Radio operations posted a strong turnaround with income increasing by 26 percent year-on-year, the company said.
For the fiscal year, the company posted net profit of Rs.683.34 crore, lower by two percent than the Rs.694.65 crore last year. Income from operations amounted to Rs.1,817.62 crore, up by three percent from the Rs.1,757.37 crore in 2012, while other income was Rs.55.02 crore, compared with Rs.74.20 crore a year-ago.
Consolidated Results
For the fiscal year, its fiscal year consolidated net profit stood at Rs.709.56 crore, up by two percent from the Rs.692.91 crore a year-ago. Income from operations totaled Rs.1,923.00 crore, higher by four percent than the Rs.1,847.17 crore in FY12, while other income was Rs.72.21 crore, compared with Rs.79.55 crore a year-ago.
The company's board recommended a final dividend of 40 percent or Rs.2.00 per equity share of Rs.5 each for the fiscal year 2013.
The company said the weekday Prime time advertisement rates (6 out of 9 Half hour slots daily) on flagship channel Sun TV were being increased effective July 15, 2013. These hikes were at an average of 19 percent and consequently, the Telecast Fees received from Producers were also being revised upwards proportionately.
At the BSE, Sun TV Network shares are currently trading at Rs.437.75, down 1.20 percent from the previous close.
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