TV Today has reported a consolidated net profit of Rs 12.42 crore for FY11 as against Rs 30.86 crore in FY10, a drop of 60 per cent.
The company’s standalone profit for the quarter ended March 31, 2011 stood at Rs 9.50 crore, as against a loss of Rs 10.08 crore for the corresponding quarter of the previous fiscal.
In the annual results statement released in the BSE, it was mentioned that TV Today had made an advance payment of Rs 45.50 crore in Mail Today Newspapers Pvt Ltd for entering the print media sphere. “Though Mail Today is in the initial stages of operations and presently incurring losses, the company is confident of its future profitability and consequently of the carrying value of the investment,” the statement added.
Total consolidated expenditure for FY11 was Rs 283.41 crore as against Rs 253.89 crore in FY10.
Meanwhile, income from operations stood at Rs 293.26 crore in FY11, marginally higher than Rs 284.81 crore in FY10.