MUMBAI: Kalanithi Maran-promoted Sun TV Network?s net profit for the third quarter ended 31 December has jumped 13.1 per cent from a year earlier on a healthy growth in advertising revenue.

Sun TV?s net profit in the third quarter was Rs 1.89 billion, up from Rs 1.67 billion a year earlier.

Despite the slowdown in ad spends for the industry due to sluggish economic growth, the Chennai-based media conglomerate saw its advertising revenue grow by 20 per cent to Rs 2.93 billion from Rs 2.44 billion a year earlier.

The company?s operating profit in the third quarter grew 10.32 per cent to Rs 3.76 billion from Rs 3.41 billion a year earlier.

Sun TV?s net revenues in the third quarter increased 14.29 per cent to Rs 4.85 billion from Rs 4.25 billion a year earlier. Its expenses jumped 8 per cent to Rs 2.13 billion from Rs 1.96 billion a year earlier.

Sun TV, which recently acquired Hyderabad franchise of the Indian Premier League (IPL) for Rs 4.25 billion, operates 33 channels across four languages -- Tamil, Telugu, Kannada and Malayalam.

Against the total projected utilisation of Rs 5.72 billion from the IPO funds, an amount of Rs 3.56 billion has been utilised towards capitalisation of subsidiaries, Rs 1.33 billion toward launch of new channel and purchase of new equipments and upgradation of old equipments, and Rs 623.4 million towards construction of owned corporate office.

MUMBAI: Kalanithi Maran-promoted Sun TV Network Ltd. will invest close to Rs 4 billion towards movie acquisition this fiscal as it seeks to protect its audience ratings share in the southern-language markets.

The leading regional broadcaster has already invested Rs 2 billion in the first half of the year ended 30 September. Sun intends to spend another Rs 800-900 million each in the remaining two quarters.

Sun TV has made a slew of movie acquisitions including Billa II, Naan Ee, Paagan and Thadaiyara Thaakka.

Sun TV, which had a muted fiscal-second quarter advertising revenue growth, is confident that it will achieve double digit growth in the remaining half of the year. For the three months ended 30 September, Sun TV?s ad revenue grew four per cent to Rs 2.4 billion. The major sectors showing ad spending growth are FMCG, mobile handsets and consumer durables while BFSI has shown de-growth.

Sun TV, which had bought the IPL Hyderabad franchise for Rs 4.25 billion till 2017, will have operational loss from this new line of business but would make a small profit from its second year of IPL operations. Analysts estimate the operational loss from the first year of IPL operations to be in the region of Rs 300 million.

In the FM radio business, Sun posted a revenue of Rs 500 million in the first half of the fiscal while net profit stood at Rs 10 million.

MUMBAI: Veteran media executive Tony D?Silva has decided to hang up his boots as the CEO of Sun Group, the Chennai-based media-to-aviation conglomerate, sources close to the development told Indiantelevision.

 D?Silva, who joined Sun Group as the COO of its direct-to-home (DTH) business Sun Direct in September 2007, is planning to relocate to Mumbai to explore opportunities in the distribution space, adds the source.

His last day at Sun Group is 31 July.

Efforts to reach Sun Group CMD Kalanithi Maran for a confirmation proved futile at the time of filing this report.

In April 2010, D?Silva was elevated to the position of Group CEO overseeing the entire business portfolio of Sun Group, which includes television network, radio channels, print products, DTH biz Sun Direct and airline business SpiceJet, in which Kalanithi Maran owns 16 per cent stake.

Prior to Sun Direct, D?Silva was heading Star India?s distribution business. An old hand in distribution, he has also worked with Zee Telefilms and Modi Entertainment Network.

He was the CEO of Modi Entertainment Network before taking over as Zee Network?s head of international operations. He has also worked with tobacco major Godfrey Phillips and consumer product giant Rickett & Coleman in the past.