Prannoy Roy-promoted NDTV has reported a Rs 6.4 crore loss in the second quarter of this fiscal as against a profit of Rs 2.8 crore in the corresponding period last fiscal. However, undaunted by the results, the company informed the stock market that it was in the process of launching a general entertainment channel. This will be the fourth channel from the company.
New Delhi Television Ltd, which also runs the Hindi channel, NDTV India, and English business channel. NDTV Profit, had reported a net profit of Rs 29 cr in the financial year 2004-05.
“The first half of the year has been special in terms of costs. The employee salary increments have been higher than normal as a one-time adjustment to changed market scenario,” the company explained in a statement.
Deliberating further on the incurred loss, the company observed, “Traditionally, it takes at least a year for revenues to pick up from the date of launch. For NDTV Profit, the gestation period has been much shorter.”
At present, promoters Radhika Roy and Prannoy Roy have a 54.78 per cent stake in the company.
General Atlantic European Investments had recently picked up nearly 8 per cent stake in NDTV in a block deal from Shyam Cellular Infrastructure Projects for a consideration of just over Rs 116 crore.
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