 "TV Today Network hits six-year high as Q1 profit more than doubles")
TV Today Network has soared 14% to Rs 157 on National Stock Exchange (NSE) after reporting an over two-fold increase in standalone net profit at Rs 32.79 crore for the first quarter ended June 30, 2014 (Q1), on back of strong operational performance.
The company had posted profit of Rs 11.98 crore during the April-June quarter of the previous fiscal.
Total income increased 54%o Rs 137 crore during the quarter under review this fiscal as against Rs 89 crore of the same period a year ago.
EBITDA or operating profit increased more than 100% at Rs 55.31 crore and margins improved to 40% from 27% during the recently concluded quarter.
The stock opened at Rs 154 and touched a high of Rs 164, its highest level since February 2008 on NSE. The counter has seen huge trading volume with a combined 3.29 million shares changing hands so far against an average sub 1 million shares that were traded daily in past two weeks on NSE and BSE.