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ICICI Direct Report
TV Today Network Ltd.’s performance was a mixed bag. The topline came in at Rs 258 crore, up 15.4% YoY.
TV broadcasting revenues came in Rs 197.8 crore (up ~6% YoY). We note that its growth was lower than its key peers - TV18 Broadcast Ltd.’s news business, Zee Media, which reported ~13%, 32% YoY growth, respectively.
The digital segment continued to be a key growth driver with 53% growth YoY to Rs 54.4 crore.
Radio revenues were at Rs 5.8 crore, up 174% YoY on a washout base. Reported Ebitda came in at Rs 85.7 crore, up 10.6% YoY while Ebitda margins came in at 33.2% (down 144 basis points YoY).
TV Today Network's profit after tax grew 12.2% YoY to Rs 61.5 crore.
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