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TV Today Network Q2 net profit up 31 pc

Press Trust of India  |  New Delhi 

Network today reported a 31.15 per cent increase in its standalone net profit at Rs 29.64 crore for the September quarter of the current fiscal.

The company had posted a net profit of Rs 22.60 crore during the same period of the previous fiscal, Network said in a regulatory filing.

Meanwhile, the board of the company has approved the appointment of Vivek Khanna as CEO subject to regulatory approvals.

Total during the quarter under review stood at Rs 149.73 crore as against Rs 137.25 crore in the year-ago period.

The board also approved Rs 33 crore investment by way of equity in Mail Today Newspapers Pvt Ltd, a wholly-owned subsidiary.

The company said Rs 30 crore would be used by Mail Today Newspapers towards repayment of debt, post which it would become debt free.

Further, of business constituting operations of business from Living Media Ltd, a holding company, also got the board's approval.

The company's stock closed 1.26 per cent higher at Rs 368.50 apiece on BSE today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 18:57 IST