TV Today Network Q4 net profit down 84% to 5.85cr, revenue down 10.3% to Rs 217cr

New Delhi: TV Today Network Ltd on Tuesday reported an 83.6 per cent decline in its consolidated net profit to Rs 5.85 crore for the fourth quarter that ended on March 31, 2023.

The company had reported a net profit of Rs 35.69 crore in the January-March period a year ago, TV Today Network said in a BSE filing.

Its revenue from operations was at Rs 217.14 crore, down 10.36 per cent during the period under review against Rs 242.26 crore in the corresponding quarter of the previous fiscal.

Its revenue from television and other media operations was Rs 213.25 crore and from radio broadcasting at Rs 3.89 crore in the last quarter of FY2022-23.

TV Today Network's total expenses in the fourth quarter of FY23 were at Rs 206.30 crore, up 11.96 per cent. Its total income in the March quarter was at Rs 225.01 crore, down 10.96 per cent.

For the fiscal year ended March 2023, TV Today Network's net profit was down 51.38 per cent at Rs 88.24 crore. It had reported a net profit of Rs 181.51 crore in the previous fiscal.

Its consolidated revenue from operations was at Rs 878.23 crore in FY23, 5.57 per cent lower than the previous fiscal year.

Meanwhile, in a separate filing TV Today Network informed its board in a meeting held on Tuesday that recommended a final dividend of 60 per cent, which is Rs 3/- per equity share having a face value of Rs 5/- each for the Financial Year 2022-2023.

Shares of TV Today Network declined by 7.28 per cent to close at Rs 189.80 on BSE.