Media house TV Today Network reported 81.46 per cent rise in net profit to Rs 16.64 crore for the first quarter ended June 30, over the same period last year.
Total income increased to Rs 71.04 crore in the latest quarter, against Rs 64.13 crore in the same quarter previous fiscal, TV Today Network said in a filing to the Bombay Stock Exchange.
In a separate filing to the BSE, the company said its board has approved the demerger of its radio business of Radio Today Broadcasting (RTBL) and merging it into TV Today Network.
Under the scheme of arrangement, the shareholders of RTBL get one share in the merged company for every 6 shares held in RTBL.
Shares of TV Today Network today closed at Rs 88.75 on BSE, up 5.41 per cent from the previous close.