TV Today Network - Cost Rationalisation Aids Q3 Margins: ICICI Direct
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ICICI Direct Report
TV Today Network Ltd. reported a better-than-expected set of Q3 FY21 numbers on the back of cost reduction and lower tax outgo.
Operating revenue came in at Rs 223.6 crore, flattish YoY (up 0.5%) with TV broadcasting revenue at Rs 185.9 crore (3.4% YoY growth).
Radio segment disappointed again with a straight eighth quarterly de-growth with revenues declining 54.4% YoY to Rs 2.1 crore as ad pricing remained low.
Digital revenue recovered reported healthy growth of 20% YoY and came in at Rs 35.5 crore.
Ebitda was at Rs 77.5 crore, up 27.5% YoY owing to lower marketing/distribution costs.
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