TV Today Network Reports Q2 Loss Amid Exceptional Items and Revenue Decline

TV Today Network Ltd reported a consolidated net loss of Rs 1.98 crore for the September quarter due to exceptional items. The company's revenue fell by 9.3% to Rs 187.55 crore. An MoU with Creative Channel was terminated, forfeiting an advance of Rs 10 crore, impacting financial results.

TV Today Network Ltd has announced a consolidated net loss of Rs 1.98 crore for the September quarter, attributed to exceptional items.

The quarterly performance marks a significant decline from the net profit of Rs 8.27 crore reported in the same period last year. TV Today Network's attempts at asset sales, including an MoU with Creative Channel for its FM radio stations, were unsuccessful after the agreement was terminated, leading to the forfeiture of a Rs 10 crore advance.

In addition, the company recorded a sizeable impairment loss of Rs 17.61 crore on its radio business assets. Despite these setbacks, TV Today's shares saw a slight increase, closing at Rs 144.55 on the BSE, up by 1.12%. The firm's total revenue from operations decreased by 9.3% to Rs 187.55 crore, alongside a 52.3% drop in revenue from radio broadcasting.

(With inputs from agencies.)