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TV Today Network posts Rs 12.77 crore net profit in Q1FY21

The total revenue for the quarter ending June 30, 2020, stood at Rs 175 crore, down 32% from Rs 260 crore in the corresponding quarter of the previous year

TV Today Network Limited, which runs news channels Aaj Tak, India Today TV and Tez, and FM radio station Ishq FM, posted a net profit  of Rs 12.77 crore in Q1FY21, down 75% from Rs 51 crore in the corresponding quarter of the previous year.

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The company’s total revenue for the quarter ending June 30, 2020, stood at Rs 175 crore, down 32% from Rs 260 crore in Q1FY20.

The television broadcasting business continued to contribute with more than 82% to the total revenue from operations of the company. The revenue from television operations stood at Rs 137.79 crore, down 18% from Rs 167.7 crore in the same quarter last year.

The radio broadcasting business earned a total revenue of Rs 23 lakh in Q1FY21 compared with Rs 3.78 crore in the first quarter of the previous year.

The company earned Rs 2.13 crore during the quarter from the newspaper publishing business. The contribution of the newspaper business was 1.27% to the total revenue from operations. Following this, the company announced that it will stop publishing its compact daily Mail Today from August 10.

Income from others stood at Rs 27.55 crore in the current quarter under review versus Rs 27.97 crore in the same quarter of last year.

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