| MUMBAI:
Sun TV Network Limited has posted a net profit of Rs 930.7 million for the quarter
ended 30 June 2007, up 120 per cent compared to Rs 422.3 million in the year-ago
period.
The
company's net income was at Rs 2.17 billion, representing a rise of 119 per cent
from Rs 990.4 million during the same period.
Meanwhile,
Sun TV has to bring down the promoter holding in the company
to a maximum permissible limit of 90 per cent. Sun has said
that the percentage of public shareholding in the first quarter
of FY 08 is 6.99 per cent as compared to 10 per cent in the
year-ago period. after merger of Gemini TV and Udaya TV with
Sun).
Sun
TV is considering various instruments including private placement
to ensure that the public float is at 10 per cent.
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