BENGALURU: TV Today Network Limited (TVTN) reported greatly improved consolidated results for the year ended 31 March 2017 (FY-17, current year). The Arun Purie controlled company’s consolidated profit after tax (PAT) increased 60.7 percent to Rs 991.13 million (15.7 percent margin of Total Income) as compared to the Rs 616.66 million for the previous year. TVTN’s Total Income increased 4.7 percent to Rs 6,305.77 million in the current year from Rs 6,021.98 million in FY-16.
The improvement in performance was due to the improvement in the company’s Television Broadcasting (TV) segment, which was offset by the poor performances of TVTN’s radio and Newspaper Publishing segments.
The TV Today television network is an English-Hindi news television network. It consists of the several news channels that include Aaj Tak (Hindi), India Today Television (English), Tez (Hindi), Business Today (English) and Delhi Aaj Tak (Hindi). TVTN’s TV segment reported operating revenue growth 5.7 percent forFY-17 to Rs 5,637.53 million from Rs 5,330.29 million in the previous year. TV segment operating profit for the current fiscal increased 1 percent to Rs 1,577.26 million from Rs 1,561.04 million in the previous fiscal.
TVTN has made attempts to dispose its radio segment – it which runs FM radio stations under the brand Oye FM. It has been partly successful in that endeavour to the extent that government regulators have permitted it to succeed. TVTN’s radio segment revenue was almost flat (increased 0.4 percent) to Rs 90.21million from Rs 89.88 million in the previous year. The segment had an higher operating loss for FY-17 at Rs 175.09 million as compared to Rs 136.06 million in FY-16.
TVTN reported 10.1 percent decline in revenue of its Newspaper Publishing segment in fiscal 2017 at Rs 360.81 million as compared to Rs 401.43 million in the previous year. The segment’s operating loss in FY-17 increased to Rs 28.35 million as compared to Rs 16.07 million in the previous year.
Let us look at the other numbers reported by TV Today Network Limited
Total expenses in FY-17 increased 6.3 percent to Rs 4,858.79 million (77.1 percent of Total Income) as compared to Rs 4,572.06 million (75.9 percent of Total Income) in FY-16. Production costs were almost flat (increased by 0.9 percent) in FY-17 at Rs 714.20 million (11.3 percent of Total Income) as compared to Rs 707.97 million (11.8 percent of Total Income).
Employee Benefits Expense increased 2.2 percent to Rs 1,569.13 million (24.9 percent of Total Income) from Rs 1,534.92 million (25.5 percent of Total Income). Finance Costs increased 31.3 percent to Rs 84.10 million (1.3 percent of Total Income) in the current year from Rs 64.04 million (1.1 percent of Total Income) in FY-16. Other expenses in the current year increased 13.2 percent to Rs 2,170.92 million (34.4 percent of Total Income) from Rs 1,917.81 million (31.8 percent of Total Income)) in the previous year.