TV Today Q3 operating profit from news biz skids 45%

MUMBAI: TV Today Network?s third quarter operating profit from the television news business has dropped 44.7 per cent due to a fall in revenues, while the production and staff cost has jumped. Meanwhile, the radio segment has reported a 137.26 per cent jump in revenues.

The company, which runs news channels like Aaj Tak and Headlines Today, has posted an operating profit of Rs 98.92 million from the TV broadcasting business, as against an operating profit of Rs 178.98 million in the corresponding quarter of the previous fiscal.

Revenue from this segment dropped 7.5 per cent to Rs 765.32 million for the three-month period ended 31 December 2011, compared with Rs 826.94 million in the earlier year.

Overall, TV Today Network has reported a net profit of Rs 35.5 million during the third quarter of the fiscal. In the same quarter last year, the company had earned a net profit of Rs 94.97 million.

TV Today Network?s expenses went up marginally to Rs 742.57 million, compared to Rs 726.21 million a year ago. The spend on staff salary was Rs 246.36 million, up from Rs 239.67 million.

TV Today?s income from operations stood at Rs 786.79 million, compared to Rs 835.99 million in the corresponding quarter of the previous fiscal.

The radio business posted an operating loss of Rs 43.09 million on an income of Rs 21.47 million. In the earlier year, operating loss stood at Rs 61.11 million on an income of Rs 9.05 million.

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