MUMBAI: TV Today Network has reported second-quarter losses as its revenue drops over six per cent, but advertising is expected to speed up in the next two quarters of the fiscal.

The company has posted a net loss of Rs 75.89 million for the three months ended 30 September, as against a net profit of Rs 106.12 million.

Income from operations stood at Rs 603.07 million, down from Rs 645.45 million in the corresponding quarter of the previous fiscal.

"The second quarter has been bad as news channels have lost advertising to general entertainment channels. But the October month has been extremely good and we expect a strong rebound in the third quarter. The worst seems to be over," a source said.

The company’s expenses also surged to Rs 724.46 million, compared to Rs 561.46 million a year ago.

However, the company said that the financials are not comparable to the year-ago period as the current quarter also includes radio broadcasting business of the erstwhile Radio Today Broadcasting.

TV Today operates a clutch of news channels including Aaj Tak and Headlines Today. The radio business operates FM radio stations under recently renamed Oye FM brand (earlier known as Meow FM).
  
     
  For the TV broadcasting segment, TV Today posted a revenue of Rs 596.22 million and an operating loss of Rs 40.57 million. In the trailing quarter, the company had posted a revenue of Rs 641.39 million and an operating profit of Rs 49.05 million.

The radio business posted an operating loss of Rs 64.17 million on an income of Rs 6.85 million. In the first quarter, operating loss stood at Rs Rs 43.32 million on an income of Rs 8.69 million.