TV Today's Q2 news biz loss at Rs 32 mn, rev falls

MUMBAI: TV Today Network?s news segment slipped into a loss of Rs 31.93 million before tax for the fiscal-second quarter compared to a profit before tax of Rs 39.45 million in the year ago period.

TV broadcasting revenue for the quarter decreased to Rs 646.62 million from Rs 689.76 million.

TV Today runs a clutch of news channels including Aaj Tak and Headlines Today.

The company, which runs Oye 104.8 FM, has halved its loss from the radio business to Rs 27.58 million from Rs 50.5 million. The revenue from radio business increased to 26.54 million from Rs 18.39 million in the year ago period.

On a consolidated level, TV Today?s net loss widened ten times to Rs 91.5 million in the quarter ended 30 September from Rs 0.85 million a year earlier on income squeeze.

The net income of TV Today fell 5 per cent to Rs 673.2 million in the second quarter from Rs 708.2 million a year earlier.

The company?s expenses in the second quarter were flat at Rs 689.8 million against Rs 691.1 million a year earlier.