The management will look at potential for returns before deciding on its bids, says SL Narayan, Group CEO of Sun TV.
A strong growth in ad revenues, and helped by a boost to digitization in the southern states, could lead to Sun TV posting strong numbers in FY17, says the Sun Group's CFO SL Narayanan.
The Sun Network had already moved the Madras High Court seeking interim relief in the Sun FM matter and the court has granted it a stay till the petition is disposed of. It is expected to move the court again in the Sun TV Network issue.
SL Narayanan, group chief financial officer, Sun Group, says the Home Ministry did not give security clearance only for some radio stations and the I&B ministry wrote to them to reconsider its decision.
Sun Group CFO SL Narayanan says that while he expects ad revenues to be at the same level, he expects the company is looking manage inventory better.
Sun CFO SL Narayanan expects the auction process to be transparent and balanced.
SpiceJet got a bitter taste of the banking community's distaste for airlines when it ran into rough weather last year.
Credit Suisse maintains outperform rating on Sun TV as the South India-based company is its top pick in the media space to play the digitisation theme.
The restructuring scheme has been submitted to aviation ministry and we will wait for its nod to make further announcements, said SL Narayanan CFO, Sun Group.
In an interview to CNBC-TV18, Narayanan says the company has never defaulted on payments in the past and has infact paid more than Rs 3000 crore last fiscal for the same.
The company reported an ad revenue growth of 11.4 percent (YoY) on the back of increase in ad minutes from 15-18 minutes (YoY).
SpiceJet announced that they are cutting fares by 75% in base fares for bookings made during February 24-26 to fill in seats during the lean season. Part of the “Super Summer Saleâ€, this offer is valid for travel between April 1 and June 30, 2014.
But while the customer may be king for a while, experts warn that such negative pricing strategies have the industry skating on thin ice once again.
The move is aimed to arrest erosion of the company‘s net worth followed by mounting losses.
SL Narayanan of Sun TV is hopeful that the company will retain 75 percent level on margins going ahead. The company posted a net profit at Rs 169 crore versus Rs 151.7 crore for the same period last year.
Going forward share of international routes will furthers strengthen as the company has recently added Muscat in its list of destinations, says SL Narayanan, Group CFO, Sun Group.
SL Narayanan group CFOsays the company on target to achieve its guidance of 25 percent subscription and 12 percent ad revenue growth in FY14.
We have sufficient inventory in some niche channels, especially comedy, news channel and kids channels. We should be able to deploy additional capacity to good use during the next few months, SL Narayanan said.
The Jet Airways-Etihad deal will help renew interest among foreign airlines looking to expand in India, believes SL Narayanan, chief financial officer, Sun Group.
Shares in SpiceJet gain 2.9 percent after newspaper The Financial Express reports a couple of key stakeholders in SpiceJet have resigned from the board of directors of Kal Airways, an investment vehicle that is the carrier's single largest shareholder.
News of a stake sale in SpiceJet was doing the rounds. But, SL Narayanan, Group CFO of Sun Group denied any such reports and said the Marans continue to hold 48.6% in the airline.
SL Narayanan, Group CFO at Sun Group says 55 percent of the ad revenue for the company came in from the FMCG sector, where he expects a distinct shift in spending pattern. "We expect double-digit ad revenue growth rate for the third quarter of this year," he told CNBC-TV18 in an interview.
Post the announcement of foreign direct investment (FDI), Delhi-based SpiceJet says it is better positioned among other listed peers to attract capital due to its lower debt levels.
Sun TV has entered into a distribution pact with Arasu Cable. In an interview to CNBC-TV18, SL Narayanan, group chief financial officer of Sun Group says, all Sun TV channels will be available on Arasu Network.
Sun TV has reported its fourth quarter numbers. The company‘s net profit came in at Rs 159 crore versus Rs 208 crore (QoQ) while the income from operations stood at Rs 427 crore versus Rs 425 crore (QoQ).