Hot Pursuit     09-Feb-15
TV Today gains after good Q3 earnings
TV Today Network rose 3.91% to Rs 231 at 12:20 IST on BSE after net profit rose 27.55% to Rs 26.34 crore on 18.23% rise in net sales to Rs 131.16 crore in Q3 December 2014 over Q3 December 2013.

The result was announced after market hours on Friday, 6 February 2015.

Meanwhile, the BSE Sensex was down 326.30 points, or 1.14%, to 28,391.61.

On BSE, so far 2.23 lakh shares were traded in the counter, compared with an average volume of 1.86 lakh shares in the past one quarter.

The stock hit a high of Rs 240.10 and a low of Rs 227 so far during the day. The stock hit a record high of Rs 259 on 7 November 2014. The stock hit a 52-week low of Rs 98.50 on 7 February 2014.

The stock had outperformed the market over the past one month till 6 February 2015, rising 8.78% compared with 6.41% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 5.38% as against Sensex's 2.87% rise.

The small-cap company has an equity capital of Rs 29.82 crore. Face value per share is Rs 5.

TV Today Network's revenue from television broadcasting rose 19.31% to Rs 127.72 crore in Q3 December 2014 over Q3 December 2013.

Revenue from radio broadcasting fell 8.49% to Rs 3.99 crore in Q3 December 2014 over Q3 December 2013.

Meanwhile, the board of TV Today Network has approved the sale of radio FM business (seven radio stations) and has further authorized a committee of directors/senior officials to negotiate the terms and conditions with potential buyers and to execute the sale, subject to requisite statutory and regulatory approvals.

TV Today Network operates a 24 hour news channel, Aaj Tak, delivering news in Hindi. The company also operates a English new channel, Headlines Today, primarily targets young urban viewers.

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