TV Today Network Q4 net profit falls 83.6% to Rs 5.85 cr

TV Today Network Ltd, on Tuesday, posted a consolidated net profit of Rs 5.85 crore for the March quarter. This is 83.6 per cent decline from Rs 35.69 crore a year ago, the company statement said.

The company’s consolidated total revenue from operation down by 10.36 per cent to Rs 217.14 crore for the March quarter as compared to Rs 242.26 crore in the year-ago period.

The company’s revenue from television and other media operations was Rs 213.25 crore and from radio broadcasting at Rs 3.89 crore in the last quarter of FY22-23.

In a regulatory filing, TV Today Network said, “The board of directors recommended final dividend subject to approval of members @60 per cent viz Rs 3.00 per equity share having face value of Rs 5/- each for the Financial Year 2022-2023.”

The dividend, if declared at the 24th Annual General Meeting shall be paid dispatched on or before 30th day from the conclusion of the Annual General Meeting (AGM).

TV Today Network shares on Tuesday fell by 7.28 per cent to close at Rs 189.80 on BSE.

TV Today Network’s total expenses in the fourth quarter of FY23 were at Rs 206.30 crore, up 11.96 per cent. Its total income in the March quarter was at Rs 225.01 crore, down 10.96 per cent.

For the fiscal year ended March 2023, TV Today Network’s net profit was down 51.38 per cent at Rs 88.24 crore. It had reported a net profit of Rs 181.51 crore in the previous fiscal.

Its consolidated revenue from operations was at Rs 878.23 crore in FY23, 5.57 per cent lower than the previous fiscal year. Business Standard