TV Today Network Ltd has announced a 40 per cent jump in its net profit for FY08 at Rs 43.55 crore, as against a net profit of Rs 31.09 crore for FY07. The topline is up 24 per cent at Rs 251.42 crore, as against Rs 202.44 crore last year, while EPS is at Rs 7.51.
TV Today further strengthened the leadership of its flagship channel Aaj Tak and consolidated the network’s leadership position in the news space. Aaj Tak expanded its international footprint by launching in the UK and continental Europe. Aaj Tak was awarded the Indian Television Academy award for Best Hindi News Channel for a record seven years in a row. In addition, Aaj Tak also made a clean sweep by winning all three best news channel awards in the year (Indian Telly, Indian Television Academy and Sansui Television Awards).
As for the channel share of various news networks – TV Today continues to be the leader with a market share of almost 20 per cent and a reach of 40 million (Source TAM, Week 24, 15+).
G Krishnan, CEO, TV Today, said, “Inspite of a highly competitive market, we are on the growth track. We will continue to deliver value to our investors and advertisers by further expanding the news base.”
Meanwhile, TV Today Network, which runs four TV channels, hiked advertising rates by about 15 per cent with effect from April 2008.