TV Today Network Q3 net profit drops 55% to 27.62 cr; revenue down 10%

New Delhi, Feb 3 (PTI) TV Today Network Ltd on Friday reported a decline of 55.08 per cent in its consolidated net profit at Rs 27.62 crore for the third quarter ended December 31, 2022.

The company had reported a net profit of Rs 61.50 crore in the October-December period a year ago, TV Today Network said in a BSE filing.

Its revenue from operations was at Rs 231.31 crore, down 10.33 per cent during the period under review, as against Rs 257.97 crore in the corresponding quarter of the previous fiscal.

Revenue from television and other media operations stood at Rs 228.93 crore, while Rs 2.38 crore came in from radio broadcasting.

TV Today Network's total expenses rose 11.96 per cent to Rs 206.30 crore in Q3 of FY23.

In a separate filing, TV Today Network said its board on Friday approved a special interim dividend of Rs 67 per equity share, which is at the rate of 1,340 per cent on the face value of Rs 5 each fully paid-up share, for FY23.

"The Special Interim Dividend shall be paid to the equity shareholders of the Company or in the records of the Depositories as beneficial owners of the shares as on Monday, February 13, 2023, which is the Record Date fixed for the purpose," it said.

The board also approved the reappointment of Chairman and Whole-time Director Aroon Purie and Vice-Chairperson and Managing Director Kalli Purie Bhandal for a period of 5 years with effect from April 1, 2023.

These reappointments would be "subject to the approval of shareholders of the company", it added.

Share of TV Today Network Ltd on Friday settled at Rs 285 on BSE, up 15.57 per cent from the previous close.