Broadcasting major Sun TV Network on Monday said its net profit has increased by 9.75% to Rs 187.62 crore for the quarter ended June 30, 2011.
The company had posted a net profit of Rs 170.95 crore in the same period last year, Sun TV Network said in a filing to the Bombay Stock Exchange (BSE).
Sun TV's income stood at Rs 453.99 crore in the reported quarter, up 3.07% from Rs 440.44 crore in the year-ago period.
An amount of Rs 355.77 crore has been utilised towards capitalisation of subsidiaries, Rs 110.12 crore towards launch of new channels and equipment; and Rs 62.34 crore for construction of corporate office against a total projected utilisation of Rs 572 crore (net of issue expenses) from the initial public offering funds, it said.
The Board of Directors have declared an interim dividend of Rs 2.50 per equity share of Rs five each for the financial year 2011-12.
Shares of Sun TV were trading at Rs 309.50 on the BSE, down 3.76% from its previous close.