[T.S.R:17432] Clarification from Sun TV.

Quote from: http://www.bseindia.com/stockinfo/anndet.aspx?newsid=37517303-6c1a-44af-ac1c-50b6d19f2dc2

Sun TV Network Ltd has informed BSE as under :

"Sun TV denies the baseless allegations and rumors leading to abnormal volatility in share prices

Over the last few days and more particularly on June 02, 2011, there has been a steep fall in the prices of the Company's shares possibly triggered by baseless allegations and rumors linking the Company with certain happenings relating to the 2G scam. We wish to inform that Sun TV Network Limited and Mr. Kalanithi Maran do not have any relationship whatsoever to any of these happenings.

Moreover, various allegations made against the Company are baseless and false and seem to be done with intent to damage and malign the reputation of the Company and its Promoters. We categorically deny the allegation of our usage of 323 lines of BSNL, said to have been routed through the residence of Mr. Dayanidhi Maran.

We wish to clarify that Mr. Dayanidhi Maran does not own any shares either in Sun TV Network Limited or in Sun Direct TV Private Limited. We also wish to state that Sun TV Network Limited does not have shareholding in Sun Direct TV Private Limited or vice versa. As a broadcaster, in its natural course of business, Sun TV offers its channels to all the DIII players like Dish, Tata Sky including Sun Direct.

We reiterate that business continues as usual and will not be hampered in any way. The Company has a robust and diversified business model with strong presence in TV broadcasting in the four southern languages (Tamil, Telugu, Kannada and Malayalam), a pan-India presence in the Radio business, and an emerging presence in the Movie production business. The Company has consistently enjoyed leadership position in most of its markets, and has the trust of its content creation partners and advertisers.

The Company has consistently reported strong profitability and growth over a very long period of time. For the recent financial year ended March 31, 2011, our consolidated revenues have grown by 39% to Rs. 2,013.46 cr and Advertisement revenues have grown by 25% to Rs. 1,053.18 cr. We have a robust EBITDA of Rs. 1,577.86 cr and our BBITDA margins have grown to 78%, in comparison to 75% in the previous year. We reported a consolidated PAT of Rs. 769.76 cr. We have been a consistent dividend paying Company and announced a dividend of 175 % being Rs. 8.75 per share on a face value of Rs. 5.00 per share for the year ending March 31, 2011."


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Thanks & Regards,
Abhishek Kothari
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