TV Today Network - Cost Rationalisation Aids Q3 Margins: ICICI Direct 
A customer looks at flat screen TVs in an electrical produce section of a Wal-Mart Stores Inc. owned and operated Sam’s Club store during its opening day in Tianjin, China. (Photographer: Qilai Shen/Bloomberg)

TV Today Network - Cost Rationalisation Aids Q3 Margins: ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct TV Today Q3FY21 Result Update.pdf

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