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Shares of TV Today Network have dipped 11% to Rs 209 on the BSE in an otherwise firm market after the company reported a 45% year-on-year (yoy) decline in its standalone net profit at Rs 8.69 crore for the fourth quarter ended March 2015 (Q4), due to higher operational costs.
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 crore, up 17.76% compared to Rs 96.93 crore in the year-ago period, while total expenses increased by 46% at Rs 113 crore on a y-o-y basis.
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 crore, up 17.76% compared to Rs 96.93 crore in the year-ago period, while total expenses increased by 46% at Rs 113 crore on a y-o-y basis.
The stock opened at Rs 203 and hit a low of Rs 198 on the BSE. The trading volumes on the counter more than doubled, with a combined 1.09 million shares changing hands till 1029 hours on the BSE and NSE. The S&P BSE Sensex was up 1.3% or 349 points at 27,228.
