TV Today Network Q1 net profit falls 75 pc to Rs 12.76 cr

New Delhi: TV Today Network on Friday reported a 74.99 per cent fall in consolidated net profit to Rs 12.76 crore for the first quarter ended June 30.

It had posted a net profit of Rs 51.03 crore in the year-ago period, the company said in a BSE filing.

The firm's total income declined by 32.64 per cent to Rs 175.45 crore during the quarter under review, as against Rs 260.5 crore in the same period a year ago.

The total expenses were down 18.92 per cent at Rs 147.64 crore, as compared to Rs 182.11 crore, it added.

In a separate filing, TV Today said its Board of Directors has approved the proposal to suspend print publication of its English daily newspaper 'Mail Today' with effect from August 10, 2020, for now, given the viability of print media in the current situation.

TV Today said the content shall continue to be published in digital format.

"It is pertinent to mention that since the newspaper 'Mail Today' comprises of insignificant portion of business of the company (Mail Today newspaper in physical mode contributed less than 2 per cent to the total revenues of the company during the quarter ended June 30, 2020), therefore the said suspension shall not have any material impact on overall business of the company," it said.

Shares of TV Today Network Ltd were trading 2.28 per cent lower at Rs 203.90 on the BSE.

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Free Press Journal