Buoyed by political advertising, TV Today Network has posted a stupendous 54.1 per cent increase in revenue from the year-ago period to Rs 137 crore ( Rs 1.37 billion) in the fiscal first quarter ending 30 June 2014. Surpassing market expectations, net profit in the June quarter almost doubled to Rs 32.79 crore ( Rs 327.9 million). Incidentally, this was TV Today’s seventh straight quarter of positive bottom line. “Political ads gave a boost to TV Today. Being an election quarter, advertisers also increased their exposure on news channels. TV Today was a big beneficiary of this,” said a media analyst. Employee and production costs hardened. In spite of steady growth in operating expenses, the company’s operating profit (EBITDA) grew 161.7 per cent to Rs 50.44 crore (Rs 504.4 million).
Read more at: http://www.televisionpost.com/television/political-ads-pump-up-tv-todays-q1-performance/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/television/political-ads-pump-up-tv-todays-q1-performance/ | TelevisionPost.com