Profit before tax of TV Today network’s TV broadcasting business witnessed more than 3x growth to Rs 103.74 crore for the year ended March 31, 2014 (FY14), from Rs 32.78 crore profit in the previous year.
The revenue for this segment also grew by 23.6% year-on-year (YoY) to Rs 374.07 crore for the year, from Rs 302.7 crore in FY13. TV Today currently operates three Hindi general news channels including Aaj Tak, Dilli Aaj Tak and Tez in Hindi and a English general news channel Headlines Today. The TV broadcasting business currently represents 96.1% of TV Today’s total revenues for the year.
The company’s FM radio broadcasting business also witnessed a significant growth in its revenues to Rs 15.37 crore for the year, up 54.2% from Rs 9.97 crore revenues in the previous year. The net loss improved to Rs 11.24 crore from Rs 13.24 crore loss in FY13. FM radio broadcasting business currently represents 3.9% of TV Today’s total revenues for the year.
The company currently operates Oye! FM radio station in Delhi, Mumbai, Kolkata, Jodhpur, Amritsar and Patiala.
On a quarterly basis, TV Today’s TV broadcasting business reported revenues of Rs 93.5 crore for the quarter ended March 31, 2013, up 14.5% from Rs 81.63 crore in the same quarter last year. The profit before tax more than doubled to Rs 27.55 crore for the quarter, from Rs 11.69 crore in Q4-FY13.
The FM Radio broadcasting business also saw an increase in its revenues to Rs 3.91 crore for the quarter, up from 2.64 crore in the same quarter last year. The loss before tax however increased to Rs 4 crore from Rs 2.73 crore in the same quarter last year.
Need To Know
– TV Today mentions that Mail Today is still in the initial stages of operations and is currently incurring losses, however the company is “confident of its future profitability”. TV Today Network had earlier invested Rs 45.5 crore in Mail Today to enter into print media segment. It currently owns 74% stake in Mail Today while the remaining 26% stake is owned by the British tabloid, The Daily Mail.
– For the entire fiscal, TV Today reported a net profit of Rs 61.32 crore, a massive 402.2% increase from Rs 12.21 crore profit in the previous fiscal. The total revenues were at Rs 389.44 crore for the fiscal, a 24.6% growth from Rs 312.67 crore revenues in the previous year.
– For the quarter ending March 31, 2013, TV Today has reported a net profit of Rs 15.85 crore, up 149.2% from Rs 6.36 crore in the same quarter last year. This is on an income of Rs 97.41 crore for the quarter, up from Rs 84.27 crore income in the same quarter last year.
Download – Financials