TV Today Network Q4 Review - No Major Election Benefit Seen In Performance: ICICI Direct
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ICICI Direct Report
TV Today Network Ltd. reported a muted set of numbers for Q4 FY21 numbers operating revenue came in at Rs 214.3 crore, up 2.9% YoY with TV broadcasting revenue at Rs 176.5 crore (4.4% YoY growth), lower than our expectation of 10% YoY growth.
Radio segment disappointed again with a straight ninth quarterly de-growth with revenues down 33.5% YoY to Rs 2.4 crore on further erosion in advertising pricing.
Digital revenue recovered, reporting healthy growth of 19.3% YoY and came in at Rs 35.4 crore.
Ebitda was at Rs 49.7 crore, up 6% YoY. Ebitda margin came in at 23.2%, up 74 basis points YoY.
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