TV Today Network tumbles after weak Q4 outcome

The Q4 result was announced after market hours on Monday, 27 May 2013.

Meanwhile, the S&P BSE Sensex was down 25.88 points or 0.13% at 20,004.89.

On BSE, 58,000 shares were traded in the counter as against average daily volume of 43,541 shares in the past one quarter.

The stock hit a high of Rs 81 and a low of Rs 76.50 so far during the day. The stock had hit a 52-week high of Rs 93.80 on 4 January 2013. The stock had hit a 52-week low of Rs 54.20 on 25 July 2012.

The stock had outperformed the market over the past one month till 27 May 2013, surging 18.42% compared with the Sensex’s 3.86% rise. The scrip had also outperformed the market in past one quarter, jumping 20.7% as against Sensex’s 4.59% gain.

The small-cap news broadcaster has equity capital of Rs 29.73 crore. Face value per share is Rs 5.

TV Today Network’s net profit rose 16.1% to Rs 12.21 crore on 1.4% growth in net sales to Rs 312.44 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

TV Today Network said the company has made a strategic investment of Rs 45.52 crore in Mail Today Newspapers (Mail Today) for entering into print media. Though, Mail Today is in the initial stages of operations and is presently incurring losses, the company is confident of its future profitability and consequently of the carrying value of the investment, TV Today Network said.

TV Today Network’s board of directors at a meeting held on Monday, 27 May 2013, recommended dividend of 75 paise per share for FY 2013.

TV Today Network is a media company which runs news and current affairs channels.

Source: business-standard.com

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