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TV Today revenue and profits up in Q1 2019

Television and ‘Others’ segment numbers were up, radio and newspapers numbers were down

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BENGALURU: TV Today Network Ltd (TVTN) reported 30.5 percent and 27.3 percent y-o-y growth in consolidated revenue from operations (Op Rev) and consolidated profit after tax (PAT) respectively for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) as compared to the corresponding year-ago quarter Q1 2019). Consolidated simple EBITDA for the quarter under review increased 19.3 percent y-o-y as compared to Q1 2019.

TVTN reported consolidated Op Rev of Rs 246.13 crore and Rs 188.58 crore for Q1 2020 and Q1 2019 respectively. Consolidated PAT for Q1 2020 was Rs 51.03 crore as compared to Rs 40.07 crore in Q1 2019. Consolidated EBITDA for Q1 2020 was Rs 74.45 crore (30.2 percent of Op Rev) as compared to Rs 62.40 crore (33.1 percent of Op Rev) in Q1 2019.

Segment Revenue

TVTN has four segments – Television Broadcasting (TV); Radio Broadcasting (Radio); Others; and Newspaper Publishing. TV and Others segments reported growth in revenue and operating results, while Radio and Newspaper Publishing segments had decline in revenue and the company reported operating losses from these segments.

TV segment operating revenue grew 30.8 percent y-o-y to Rs 207.74 crore in Q1 2020 from Rs 158.86 crore. The segment’s operating result grew 12.4 percent y-o-y in the period under review to Rs 64.24 crore from Rs 57.14 crore.

Radio segment operating revenue declined 34.6 percent y-o-y in Q1 2020 to Rs 3.78 crore from Rs 5.78 crore. Radio operating result was a higher loss of Rs 3.73 crore in Q1 2020 as compared to a loss of Rs 1.01 crore in Q1 2019.

Others segment had operating revenue of Rs 28.89 crore in Q1 2020 which was 64.8 percent higher y-o-y than Rs 17.53 crore. Others segment operating result was Rs 7.14 crore, which was more than 5 times (grew by 451.3 percent) y-o-y at Rs 7.14 crore as compared to Rs 1.29 crore.

Newspaper Publishing business operating revenue declined 11.9 percent y-o-y to Rs 5.74 crore from Rs 6.52 crore. The company reported a lower operating loss (result) of Rs 0.04 crore as compared to a loss of Rs 1.15 crore in Q1 2019.

Let us look at the other numbers reported by the company for Q1 2020

TVTN reported consolidated total expenditure of Rs 182.11 crore for Q1 2020 which was 35.6 percent higher y-o-y than Rs 134.26 crore in Q1 2019. Consolidated cost of materials consumed during the period under review was 11.9 percent lower y-o-y at Rs 0.68 crore as compared to Rs 0.77 crore in Q1 2019. Consolidated Production cost in Q1 2020 increased 49.8 percent to Rs 28.65 crore from Rs 19.12 crore. Consolidated Employee Benefit Expenses in Q1 2020 increased 20.6 percent y-o-y to Rs 66.44 crore from Rs 55.08 crore. Consolidated Finance costs increased by 236.2 percent y-o-y in Q1 2020 to Rs 0.82 crore from Rs 0.24 crore. Consolidated Other expenses increased 48.3 percent y-o-y during the quarter under review to Rs 75.93 crore from Rs 51.21 crore.

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