TV Today's net profit up 24 per cent

MUMBAI: TV Today Network, broadcaster of India most popular news channels in Hindi, Aaj Tak, and its English sibling Headlines Today, today reported that it's net profit has increased by 24 per cent to Rs 320.8 million from Rs 259.2 million during financial year 2003-2004 ended 31 March.

The company has also proposed a maiden dividend of 15 per cent.

TV Today's revenue for the year under review stood at Rs 1425.2 million based on the audited results, which shows an increase of 30 per cent over the previous year's revenue of Rs 1093.8 million.

The network's EPS (earnings per share- of face value of Rs 5 each) stands at 6.38, whereas the operating margin and net profit margin stand at 44 per cent and 23 per cent, respectively.

The fourth quarter revenue (ended 31 March 2004) stood at Rs 446.4 million as against Rs 314 million, indicating an increase by 42 per cent as compared to the corresponding quarter of last year. Net profit for the quarter stood at Rs. 94 million, up by 45 per cent as compared to the corresponding quarter of last year.

Commenting on the results, an official statement from TV Today quoted CEO G Krishnan as saying, "Our performance clearly reinforces the faith investor and business associates have in the TV Today brand. This is also a result of growing confidence in our channels. The results reinforce our leadership position in the market."

Aaj Tak, the flagship brand of the company, has also claimed that its reach is consistently growing and has reached 29.79 million viewers during the election (results) week. On the counting day, 13 May, Aaj Tak had a lead in viewership and the channel share of Aaj Tak was 37 per cent, almost double that of it's nearest competitor.

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