TV Today Network has recorded a 6.35% decline in revenue at Rs 211.63 crore for the quarter ended 30th September compared to Rs 225.99 crore in the same quarter last year.
Total income fell 7% to Rs 223.43 crore from Rs 240.31 crore. Expenses jumped 11% to Rs 196.52 crore from Rs 177.18 crore on the back 13% increase in employee benefits expense to Rs 82.04 crore from Rs 72.74 crore.
Net profit nosedived to Rs 19.72 crore, a 58% drop from Rs 46.98 crore in the previous fiscal.
TV Today Network broadcasts 24-hour news channels Aaj Tak, Good News Today, and Aaj Tak HD in Hindi; and India Today Television in English. It also runs a radio station (Ishq 104.8 FM) in Delhi, Mumbai, and Kolkata. The digital business comprises Aaj Tak and India Today websites along with various social media and popular online video channels.
For fiscal 2022, the company's net profit was Rs 182 crore on revenue of Rs 930 crore, against Rs 132 crore and Rs 783 crore, respectively, for the corresponding period previous fiscal.
