TV Today reported standalone operational revenues of Rs 199.4 crore for the quarter ended December 31, 2018, 6.3% higher year-on-year from Rs 187.5 crore, and 22% higher from Rs 163.2 crore in the preceding quarter.
The company’s net profit also shot up to Rs 39.1 crore from Rs 29.5 crore in the preceding quarter, a 32.8% increase. Net profit in Q3FY18 was Rs 38.7 crore.
TV Today’s broadcasting revenues grew by 3.9% year-on-year to Rs 170 crore, from Rs 164 crore in Q3FY18. The network launched a new news channel ‘Bihar Tak’ last quarter, it now runs four regional channels – Aaj Tak, Dilli Aaj Tak, Tez and Bihar Tak. It also runs the English news channel India Today TV (earlier Headlines Today). The TV business accounts for the majority — 85.5% — of the company’s revenue.
However, the segment’s profits remained largely flat over last year, decreasing marginally by 4.3% to Rs 51.9 crore. Net profit increased by 22% over the preceding quarter from Rs 42.5 crore.
Revenues from the radio business increased by 11.4% year-on-year to Rs 7 crore, and losses shrank to Rs 2.1 crore from losses of Rs 6.1 crore in the same quarter last year, a 64.9% decrease year-on-year. Radio accounts for 3.5% of the company revenue.
Last quarter, the company announced the sale of its radio business comprising of 3 radio stations in Delhi, Mumbai and Kolkata to Entertainment Network India Ltd (ENIL), which runs Radio Mirchi. TV Today had sold off 11 of its radio stations to ENIL; 4 in December 2015 and 7 in February 2015.