TV Today Network Ltd, broadcaster of news channels such as Aaj Tak and Headlines Today, today posted a net profit of Rs16.64 crore for the quarter ended 30 June, up 81% year-on-year. Total revenue rose 10.7% to Rs71 crore.
The company achieved a 15% reduction in marketing and distribution expenses, which helped keep total expenditure only marginally higher y-o-y. There is a more than 100% rise in other income.
The radio broadcasting business of Radio Today Broadcasting Ltd will be hived off from that company and merged with TV Today. As per the scheme approved by the board, for every six shares held in Radio Today, shareholders will receive one share in TV Today. As a result of this merger, promoter holding in TV Today will go up by 1%, the company said.
| 1Q 2009 | 1Q 2008 | |
|---|---|---|
| EPS | Rs2.88 | Rs1.58 |
| Net Income | Rs16.64 crore | Rs9.17 crore |
| Revenue | Rs71.04 crore | Rs64.13 crore |

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