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TV Today Network, the company that houses the television and radio ventures of the India Today Group, has reported a net profit of Rs 10.08 million for the first quarter ended June 30 2010 for the fiscal 2010-2011.

The financial position of the company has plummeted with the net profit declining from Rs 166.44 million a year ago in the corresponding period. Though, TV Today clarified that the results are not comparable to the previous year figures as the radio broadcasting business was not included in the company previous year.

Net sales for the quarter stood at Rs 650 million, while total income was reported at Rs 674.11 million. The expenses for the quarter accounted to Rs 648.19 million. The earnings per share was posted at Rs 0.22 for Q1.

While the TV broadcasting business delivered operating profit of Rs 49.05 million, the radio broadcasting business incurred operating loss of Rs 43.32 million.

TV Today operates English News channels Headlines Today, Hindi news channel Aaj Tak and FM radio network Meow FM.