The effects of the economic slowdown are beginning to reflect on balance sheets. TV Today has joined the media companies reporting dip in profits in the third quarter. TV Today’s Q3 net has dropped 48 per cent to Rs 8.67 crore as against Rs 16.7 crore in the corresponding quarter of FY08.
Total income also fell from Rs 69.37 crore in Q3 FY08 to Rs 65.26 crore in the corresponding quarter of FY09.
Total expenditure, on the other hand, grew from Rs 49.01 crore to Rs 57.92 crore triggered by employee cost, and advertisement, marketing and distribution expenses, among others.