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TV Today Q1 net slumps 45% amid ad rev drop and rebranding of English channel
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Update :  TV Today Q1 net slumps 45% amid ad rev drop and rebranding of English channel
MUMBAI: Aroon Purie-promoted TV
Today Network, which operates
leading Hindi news channel Aaj Tak
and English news channel India Today
TV, has seen a 45 per cent drop in its
net profit for the first quarter ended
30 June 2015.
The bottom line has been impacted
mainly as the revenue during the
quarter fell, compared to the higher
base in the corresponding quarter of
the previous fiscal due to election
spends. At the same time, the
company incurred Rs 14.38 crore (Rs
143.8 million) as marketing expenses
towards the rebranding of Headlines
Today as India Today TV.
TV Today posted a standalone net
profit of Rs 17.96 crore (Rs 179.58
million) in the quarter under review,
as against a net profit of Rs 32.79
crore (Rs 327.94 million) in the
corresponding quarter of the previous
Incidentally, this was TV Today’s 11th
straight quarter of positive bottom
Total income from operations was
down 4.6 per cent to Rs 127.11 crore
(Rs 1.27 billion), from Rs 133.22
crore (Rs 1.33 billion) a year ago. In
the previous fiscal, TV Today had
witnessed a 54.1 per cent increase in
Profit from operations (before other
income, finance cost and exceptional
items) was at Rs 21.82 crore (Rs
218.24 million), as against Rs 47.7
crore (Rs 477.01 million) in the year-
ago period.
Expenses jump 18.9%
Total expenses jumped to Rs 105.29
crore (Rs 1.05 billion) from Rs 85.52
crore (Rs 855.18 million) a year ago.
Production cost saw a 5.8 per cent
decline to Rs 12.11 crore (Rs 121.13
million), compared to Rs 12.86 crore
(Rs 128.64 million).
On the other hand, distribution and
sales promotion expenses catapulted
83.8 per cent to Rs 38.24 crore (Rs
382.37 million), from Rs 20.81 crore
(Rs 208.06 million) in the year-ago
In addition to marketing spend on
rebranding, this also comprised
carriage fees paid to multi-system
operators (MSOs).
Employee cost increased by 18.9 per
cent to Rs 32.81 crore (Rs 328.14
million), from Rs 27.6 crore (Rs
275.98 million) in the year-ago
Employee costs, carriage fees and
production costs continued to hog
operating expenditure.
TV broadcasting business
The company’s TV broadcasting
business reported first-quarter profit
of Rs 27.98 crore (Rs 279.8 million),
compared to Rs 51.43 crore (Rs
514.27 million) a year ago.
TV operations revenue fell from Rs
129.85 crore (Rs 1.3 billion) to Rs
124.65 crore (Rs 1.25 bllion).
FM radio biz
The company, which had signed a non-
binding agreement with Entertainment
Network India Ltd (ENIL) for the sale
of its seven radio stations, has
received permission from the Ministry
of Information & Broadcasting (MIB)
to sell four of its stations, while the
case concerning the remaining three
frequencies is in the Delhi High Court.
TV Today said that it is currently
engaged in discussions with ENIL for
the sale of the four radio stations.
The FM radio business (Oye FM), which
accounts for 1.9 per cent of the
company’s total revenue, saw a
decline in income to Rs 2.46 crore (Rs
24.6 million) during the quarter under
review, compared to Rs 3.36 crore (Rs
33.6 million) in the year-ago period.
The FM radio segment continues to be
a drag on TV Today’s operating profit.
For the quarter, the segment
reported operating loss of Rs 2.62
crore ( Rs 26.21 million), as against
Rs 2.56 crore (Rs 25.6 million) a year
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