On sequential basis, for the quarter ended September 2008, TV Today reported 2% dip in sales at Rs 65.27 crore with OPM improving 310bps at 21.2% and the resultant net profit grew 14% at Rs 8.67 crore.

For the nine months period ended December 2008, the consolidated total income is Rs 211.63 crore. Consolidated net profit after tax is Rs 25.43 crore and consolidated basic and diluted earning per share is Rs 4.38.

The Company would re-file for buy-back of shares from the open market for an amount not exceeding Rs 29.30 crore. The maximum amount would be same but the Company would review the minimum amount.

For the quarter ended December 2008, TV Today reported 6% dip in sales at Rs 65.27 crore. The volumes declined by 6%. The operating margins 1390bps at 21.2%. As a % of sales, staff cost increased 780bps at 28.7% Transmission & Production Cost increased 120bps at 11.7% and advertisement, marketing & distribution expenses increased 840bps at 25.8% whereas other expenditure decreased 340bps at 12.7%.

The resultant operating profit de-grew 43% at Rs 13.83 crore. The other income increased 30% at Rs 7 crore, interest cost increased 6% at Rs 2.91 lakh and depreciation charge increased 62% at Rs 6.54 crore. The resultant PBT de-grew 44% at Rs 6.54 crore. Tax provision including current tax, deferred tax & FBT decreased 38% at Rs 5.60 crore with effective tax rate at 39.4% up from 35% in the corresponding quarter previous year. The resultant PAT dipped 48% at Rs 8.67 crore.

For the nine months ended December 2008, the operating revenues grew 17% at Rs 196.30 crore. The operating margins dipped 640bps at 19.9%. As a % of operating revenues, advertising expenses increased 640bps at 25.8%, staff cost increased 290bps at 27.5% whereas, transmission & production costs decreased 170bps at 10.2% and other expenses dipped 120bps at 16.6% as a % of sales.

The resultant operating profit de-grew 11% at Rs 38.99 crore. The other income increased 10% at Rs 15.32 crore. The interest cost increased 15% at Rs 8.28 lakh and depreciation charge increased 24% at Rs 14.79 crore on the back of capex on technological up-gradation, the resultant PBT de-grew 14% at Rs 39.43 crore. Tax provision including current tax, deferred tax & FBT decreased 12% at Rs 14 crore with effective tax rate at 35.5% up 90bps. The resultant PAT dipped 15% at Rs 25.43 crore.

Shareholding

As of December 2008, total foreign investors hold 0.2% (0.21% at the end of sequential quarter), Promoters hold 55.68% (55.68% at the end of sequential quarter), MFs/FIs & Banks hold 19.16% (18.28% at the end of sequential quarter) and others hold 24.97% (25.83% at the end of sequential quarter).