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TV Today revenues at Rs 476.56 crore for FY15; TV broadcasting profits up 23 percent

TV Today LogoThe revenues from its TV broadcasting business for TV Today Network increased year on year (YoY) to Rs 461.08 crore for the year ending March 31, 2015 (FY15), up from Rs 374.06 crore in the previous fiscal, an increase of 23.26%. Profits before tax also increased to Rs 126.72 crore this fiscal year, compared to Rs 103.74 crore the previous year, an increase of 22.15%.

TV Today currently operates three Hindi general news channels including Aaj Tak, Dilli Aaj Tak and Tez in Hindi and English general news channel Headlines Today. The TV broadcasting business represents about 96.75% of TV Today’s total revenues for the year.

TV Today’s FM radio broadcasting business reported a marginal growth in its revenues year on year, posting Rs 15.47 crore revenues for FY15, up from Rs 15.37 crore in FY14. The net loss before tax also improved to Rs 9.28 crore loss in FY15 as compared to Rs 11.23 crore loss in FY14. TV Today Network currently operates Oye! FM radio station in Delhi, Mumbai, Kolkata, Jodhpur, Amritsar and Patiala.

Note that TV Today is looking to sell seven stations of its Oye FM to Entertainment Network (India) Limited (ENIL), as the company had informed in February. Subsequently, the company approached the High Court with an urgent writ petition to expedite the sale of its radio stations to Bennet, Coleman and Company Limited (BCCL) promoted ENIL in April, as its permissions from the ministry of information and broadcasting were getting delayed

Quarterly Revenues:

For the quarter ending March 31, 2015, TV Today’s TV broadcasting business reported revenues of Rs 110.06 crore, up 17.72% from Rs 93.49 crore revenues in the same quarter last year. However, the profit before tax was at Rs 14.90 crore, down 45.89% from Rs 27.54 crore in Q4-FY14.

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On the other hand, the FM Radio broadcasting business saw revenues of Rs 3.90 crore for the quarter, down slightly from Rs 3.99 crore in the same quarter last year. The loss before tax was at Rs 2.97 crore for the quarter, an improvement from Rs 3.99 crore loss in Q4-FY14.

Other highlights:

– For the entire fiscal, TV Today reported a net profit of Rs 81.03 crore, a 32.14% increase from Rs 61.32 crore profit in the previous fiscal. The total revenues were at Rs 476.56 crore for the fiscal, a 22.37% growth from Rs 389.44 crore revenues in the previous year.

– For the quarter ending March 31, 2015, TV Today has reported a net profit of Rs 8.68 crore, down 45.23% from Rs 15.85 crore in the same quarter last year. This is on an income of Rs 114.53 crore for the quarter, up from Rs 97.41 crore income in the same quarter last year.

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