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TV Today Network Q4 net doubles amid revenue growth
MUMBAI: TV Today Network has posted a standalone net profit of Rs 36.57 crore for the fiscal fourth quarter as against Rs 18.4 crore in the corresponding quarter of the previous fiscal year.
Revenue from operations jumped to Rs 164.7 crore compared to Rs 141.8 crore a year ago. Expenses saw an increase to Rs 126.2 crore from Rs 117.4 crore.
For the full fiscal period, the news network’s net profit swelled to Rs 107.8 crore from Rs 60.83 crore a year ago.
Revenue from operations jumped to Rs 572.7 crore in FY17 compared to Rs 542 crore recorded in the previous fiscal. Expenditure jumped to Rs 440.6 crore from Rs 410.6 crore.
TV segment performance
The television broadcasting segment posted an operating profit of Rs 48.74 crore in the fiscal fourth quarter as against Rs 32.68 crore in the corresponding quarter of the previous fiscal year.
Revenue from the segment jumped to Rs 161 crore in the quarter ended 31 March from Rs 139.9 crore a year ago.
In FY17, the television broadcasting business posted an operating profit of Rs 157.7 crore compared to Rs 156.1 crore a year ago.
Revenue increased to Rs 563.7 crore from Rs 530 crore in FY16.
FM radio performance
Operating loss from the radio broadcasting segment jumped to Rs 5.17 crore in the fiscal fourth quarter from Rs 2.91 crore a year ago.
Revenue increased to Rs 3.71 crore from Rs 1.88 crore.
In FY17, radio broadcasting operating loss rose to Rs 17.5 crore compared to Rs 13.6 crore a year ago.
Revenue stood at Rs 9.02 crore in FY17 as against Rs 8.98 crore.
Recently, the three of the company’s FM radio stations in Delhi, Kolkata and Mumbai had completed the migration from Phase II to Phase III after paying a migration fee of Rs 71.4 crore.