News Broadcasting
TV Today Q3 net up 57.9% to Rs 136.9 million
MUMBAI: News broadcasters have posted third-quarter profitability despite revenue crawling below double digit growth. TV Today Network said Monday its net profit surged 57.87 per cent per cent to Rs 136.92 million for the quarter ended 31 December 2009, as against Rs 86.73 million in the previous year.
Income from operations saw a modest 7.80 per cent jump to Rs 703.58 million, as compared to Rs 652.66 million in the year-ago period.
The company kept a tight control on the expenditure during the quarter under review. The expenses stood at Rs 572.13 million, marginally lower then Rs 579.71 million in the corresponding quarter of FY ’09.
“Though revenues have not seen a big leap, the market is improving steadily. We are seeing positive signals from the financial and realty sectors. News channels should stand to benefit going forward,” a media analyst said.
