TV Today FY’11 net slips 60% on slow rev growth

MUMBAI: TV Today Network, which runs leading Hindi news channel Aaj Tak, has managed a 2.96 per cent topline increase in a difficult fiscal where some of the television news broadcasters have struggled to scale up revenues.

A slow revenue growth, the merger of the loss-making radio operations and a 11.63 per cent increase in expenses dragged down TV Today’s net profit by 59.75 per cent.

TV Today posted a net profit of Rs 124.24 million for the fiscal ended 31 March 2011, down from Rs 308.67 million in the earlier year.

Income from operations was marginally up at Rs 2.93 billion, from Rs 2.85 billion in FY’10.

The company‘s expenditure stood at Rs 2.83 billion, up from previous year’s Rs 2.54 billion.

While almost all segments of expenditure saw a marginal increase, TV Today‘s spent on advertising, marketing and distribution went up by 39.76 per cent to Rs 842.65 million (from Rs 602.9 million).

The company‘s operating profit fell to Rs 98.48 million, from Rs 309.21 million a year ago.

The income generated by the TV Broadcast segment stood at Rs 2.89 billion, while operating segment from the segment was at Rs 367.58 million.

Meanwhile, the radio segment revenue stood at Rs 42.15 million, while operating loss stood at Rs 219.08 million.

The firm made an advance payment of Rs 455 million to Mail Today Newspapers to enter the daily newspaper space. The venture is currently notching up losses.

For the fourth-quarter ended 31 March, TV Today has posted a net profit of Rs 95.03 million, as against a net loss of Rs 100.84 million in the corresponding quarter of the previous fiscal.

The revenue during the quarter went up 6.95 per cent to Rs 843.47 (from Rs 788.71 million), while expenses came down to Rs 735.25 million (from Rs 843.61 million).

The revenue and operating profit from the TV broadcasting segment during the quarter stood at Rs 825.91 million and Rs 180.12 million respectively.

The radio division posted a revenue of Rs 17.56 million and an operating loss of Rs 50.47 million during the quarter.

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