ICICI Direct: TV Today Network - Faster Revenue Recovery In Q2; Viewership Loss A Concern
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ICICI Direct Report
TV Today Network Ltd. reported a better-than-expected set of Q2 FY21 numbers led by a faster recovery in revenues in broadcasting and digital segment.
Operating revenue came in at Rs 176.7 crore, down 2% YoY with TV broadcasting revenue at Rs 143.6 crore (approximately 1% YoY growth).
Radio segment disappointed again with a straight seventh quarterly de-growth with revenues declining 65.7% YoY to Rs 1 crore as advertisement spend across sectors remained low.
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