Television

TV Today Q1-2014 PAT almost doubles Q4-2013; Radio shows improved results

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BENGALURU: Indian broadcaster TV Today Network Limited (TV Today) reported a PAT of Rs 11.98 crore for Q1-2013, almost double (88.5 per cent higher) than the Rs 6.36 crore profit for Q4-2013. The company had reported a loss of Rs 0.35 crore for Q1-2013.

Its FM Radio Broadcasting segment (radio) showed improved performance in Q1-2014 as compared to Q1-2013 and Q4-2013. Loss from the radio segment of Rs 2.33 crore was about half (51.2 per cent) of Rs 4.54 crore in Q1-2013 and 15 per cent lower than the loss of Rs 2.74 crore in Q4-2013. Revenue from radio in Q1-2014 at Rs 3.02 crore was higher by 36.6 per cent as compared to the Rs 2.21 crore in Q1-2013 and 14.1 per cent higher than the Rs 2.64 crore in Q4-2013.

Let us take a look at TV Today's other results for Q1-2014

TV Today's net income from operations for Q1-2014 at Rs 88.90 crore increased 25.8 per cent as compared to the Rs 70.64 crore for Q1-2013 and was 5.5 per cent higher than the Rs 84.27 crore for Q4-2013.

Its profit from operations before other income, finance costs and exceptional items in Q1-2014 at Rs 17.62 crore almost trebled (was 276 per cent up) as compared to the profit of Rs 6.38 crore for Q4-2013. The company had reported a loss from operations before other income, finance costs and exceptional items of Rs 0.49 crore for Q1-2013.

Exceptional items included the Rs 1.57 crore the company had paid in Q1-2013 to Prasar Bharti and BSNL under protest towards telecast fee and interest thereon (Rs 0.8001 crore) and monitoring charges for foreign satellite (Rs 0.7691 crore) respectively in respect of earlier years

TV Today's overall expense for Q1-2014 was almost flat at Rs 71.27 crore as compared to the Rs 71.13 crore for Q1-2013 and 8.5 per cent lower than the Rs 77.89 crore for Q4-2013.

The network spent Rs 9.03 crore in Q1-2014 towards production cost, 13 per cent lower than the Rs 10.38 crore for Q4-2013, but 3.8 per cent more than the Rs 8.71 crore for Q1-2013.

TV Today's advertisement, distribution and sales expense at Rs 19.7 crore for Q1-2014 was lower by 9.7 per cent as compared to the Rs 21.81 crore in Q1-2013 and 14.1 per cent lower than the Rs 22.93 crore in Q4-2013.

TV Today's Television broadcasting revenue for Q1-2014 at Rs 85.89 crore was higher by 25.5 per cent as compared to the Rs 68.44 crore for Q1-2013 and 5.2 per cent more than the Rs 81.63 crore for Q4-2013.

It's Television Broadcasting business had a PBIT (Profit before interest and tax) of Rs 21.18 crore for Q1-2014 was almost five times (4.98 times) the Rs4.25 crore for Q1-2013 and was 81.1 per cent higher as compared to the Rs 11.69 crore for Q4-2013.

TV Today has made a strategic investment of Rs 45.52 crore in Mail Today Newspapers Pvt. Ltd. (Mail Today) for entering into print media. Though Mail Today is in the initail stages of operation and is presently incurring losses, the company is confident of its profitability and consequently of the carrying value of the investment.

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