SAB Group owned TV Vision Limited in a regulatory submission on Thursday stated that the advertisement time on its channel was nearly as low as 10-15% than usual business due to the coronavirus pandemic.
According to a BSE filing from the FTA broadcaster, the impact of the COVID-19 pandemic has substantially reduced the revenue of the company with falling advertisement time. It stated that the total impact of the pandemic on the company could be not completely assessed at this stage.
SAB Group further stated it was continuously maintaining the transmisson of its channel via distribution platforms namely GPTL, DD Free Dish, Tata Sky, Airtel Digital TV, DEN Networks, Hathway Cable, etc and making payments to the I&B Ministry towards the uplinking and downlinking fees of the channel and payments to the satellite space provider.
It further stated that it was following the policy of ‘No pay cut and No job cut’ for its employees along with adoption of the ‘Work From Home’ policy. The regulatory submission came in compliance with circular from regulatory watchdog SEBI which on May 20 directed all listed companies to disclose the impact of COVID-19 on the company.
