TV Today Network on Friday reported the financial results for the quarter ending June 30, 2020. TV Today’s net profit was dragged by the impact of COVID-19 which halved in Q1 to Rs 12.77 crores compared to the previous quarters.
Results at a glance
- Total revenue at Rs 175.45 crores
- Total expenses at Rs 147.63 crores
- Net Profit at Rs 12.77 crores
- Television broadcasting revenue at Rs 137.79 crores
TV Today’s total income came down from Rs 216.39 crores in the previous quarter to Rs 175.45 crores in Q1 FY 21. TV Today’s total expenses stood at Rs 147.63 crores, down from Rs 171.14 crores in the previous quarter. The net profit stood at Rs 12.27 crores, down from Rs 29.24 crores in the previous quarter.
The segment revenue from television broadcasting stood at Rs 137.79 crores, down from Rs 169.07 in the previous quarter. The segment result from television broadcasting stood at Rs 25.56 crores, down from Rs 37.74 crores in the previous quarter.
The company has also discontinued the print publication of English Daily Newspaper ‘Mail Today’ with effect from 10th August, 2020, giving the viability of print media in the current situation with the publication now set to be published in the digital mode.