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TV Today reported a weak set of numbers. Topline came in at Rs 211.6 crore, down 6.4% with TV and other media (clubbed segment of broadcasting and digital) revenues at Rs 209 crore (down 6% YoY) on a high base. Reported EBITDA came in at Rs 26.5 crore, down 55.4% YoY with EBITDA margins at 12.5% (down 14 percentage points YoY_, impacted by negative operating leverage and front ended digital segment costs. Reported PAT at Rs 19.7 crore was down 58% YoY with weak operating performance dragging the bottomline
TV Today’s operating numbers were disappointing (albeit better than peers). H2FY23 is likely to see healthy recovery with state elections in couple of states. Key monitorable would be margins recovery trajectory.
: Negative