TV Today Network Q1 net profit declines 75% to Rs 8.78 crore

TV Today Network Ltd on Friday reported a 75 per cent decline in its consolidated net profit to Rs 8.78 crore for the first quarter ended on June 30, 2023.

The company had reported a net profit of Rs 35.05 crore in the April-June period a year ago, TV Today Network said in a regulatory filing.

Its revenue from operations grew 2.1 per cent to Rs 222.75 crore during the period under review as against Rs 218.15 crore in the corresponding quarter of the previous fiscal.

The company’s revenue from television and other media operations was Rs 218.84 crore and from radio broadcasting at Rs 3.91 crore in the first quarter of FY2023-24.

Total expenses increased 21.16 per cent to Rs 220.38 crore during the quarter under review.

Its total income in the June quarter fell 1.46 per cent to Rs 232.40 crore from the year-ago period.

Shares of TV Today Network on Friday ended 1.02 per cent lower at Rs 208 apiece on the BSE. PTI