Sun TV Network has reported strong financial performance for the third quarter ended December 31, 2009. The Network has posted a net profit of Rs 1.52 billion as against a net of Rs 1.12 billion on the corresponding quarter of FY09, a 35.37 per cent growth on the back of good revenue growth.
The Network has reported revenues of Rs 3.95 billion, up 45.88 per cent from last year. With the other income at Rs 83.5 million, the total income of the Network was up 41.42 per cent to Rs 4.03 billion.
Meanwhile, Sun TV Network has informed the Bombay Stock Exchange that it has floated a distribution company in the UK, christened Sun TV Network Europe. The subsidiary company will broadcast and distribute Sun Network's channels in the UK and Europe.
It may be recalled that in December 2009, Sun Network had announced the restructuring of its distribution business to expand its footprint across the globe via cable, DTH and Internet protocol television.
The Sun shifts gears – Part 1
The Sun shifts gears – Part 2