News Broadcasting
TV Today doubles Q3 profit before tax and interest from broadcast biz
MUMBAI: The third quarter of the financial year 20123-13 has been the best quarter for news broadcasters notwithstanding the less than buoyant festive season with advertisers.
TV Today Network’s revenue from TV business increased to Rs 879.6 million for the three-month period ended 31 December 2012, from Rs 765.7 million a year earlier.The company owns and operates news channels such as Aaj Tak, Tez and Headlines Today.
Profit before tax and interest for TV Broadcasting business more than doubled to Rs 200.3 million from Rs 98.92 million a year earlier.
TV Today Network’s net profit from the television and FM radio broadcasting business combined rose more than four times to Rs 153.5 million in the third quarter ended 31 December from Rs 35.49 a year earlier.
On the pure radio business front, TV Today Network narrowed the loss before tax and interest to Rs 32 million in the third quarter from Rs 43 million a year earlier. Its revenue from radio was Rs 24.69 million against to Rs 21.47 million a year earlier.
TV Today Network’s overall income from operations in the third quarter increased 15 per cent to Rs 903.7 million from Rs 786.79 million a year earlier, while its expenses for the quarter saw a marginal fall to Rs 752 million from Rs 742.7 million.
TV Today Network’s production cost declined to Rs 93.3 million from Rs 102.5 a year ago.
Its advertisement, distribution and sales promotion expenses were flat at Rs 229.8 million compared with Rs 220.2 million.
