Media firm TV Today Network today reported 45.23 per cent decline in its standalone net profit at Rs 8.68 crore for the quarter ended March 31, 2015 due to sharp increase in expenses.
The company had posted a net profit of Rs 15.85 crore in the same period of last fiscal, TV Today said in a filing to the BSE.
Net sales during the quarter under review stood at Rs 114.15 crore, up 17.76 per cent as compared to Rs 96.93 crore in the year-ago period.
During the quarter, the company's expenses stood at Rs 112.7 crore, an increase of 45.79 per cent as against Rs 77.3 crore in the same quarter of previous year.
Television broadcasting revenue in the fourth quarter was at Rs 110.63 crore, up 18.33 in comparison to Rs 93.49 crore in the corresponding period last fiscal.
Revenue from radio broadcasting declined marginally to Rs 3.9 crore as against Rs 3.91 crore in the same quarter last fiscal, the filing said.
For the year ended March 31, 2014-15, the company reported a net profit of Rs 81.03 crore as against net profit of Rs 61.31 crore in the previous fiscal.
TV Today Network's net sales in the year ended March 31, 2014-15 stood at Rs 474.7 crore as compared to Rs 388.18 crore in the previous year.
Meanwhile, in a separate filing, TV Today Network said its board has recommended a dividend of Rs 1.50 per share for the financial year 2014-15.
Shares of TV Today closed 0.89 per cent down at Rs 234.70 apiece on the BSE.
