NDTV has reported improved operational performance during the quarter ended June 30, 2013. Net distribution income turned positive for NDTV Group (consolidated) and NDTV News in Q1 FY14.
Operating losses reduced to Rs 12 crore in Q1. Net losses reduced from Rs 26 crore to Rs 24 crore on a year-on-year basis.
This quarter has also seen timing issues, such as the postponement of key TV projects to later in the year
This quarter has seen one-time expenses related to NDTV Profit restructuring. Plans are underway to re-launch NDTV Profit. Phase I of restructuring process is complete with the channel moving from Mumbai to Delhi. The shift is aimed at enhancing group synergies and containing expenses. After programming changes, Profit has reportedly seen a 43 per cent increase in revenue.
Phase II will see the channel continue to remain a business channel, during the day time. However, in the evening, it will transform into a completely new channel. The new channel is expected to launch within the next few months.
Speaking on the plans, Vikram Chandra, Group CEO, NDTV said, “We are excited at the imminent re-launch of NDTV Profit. We are working on a unique concept. A business channel only attracts viewership in the day, when the markets are open. The re-launched channel will cover markets during the day, and high viewership programming in the evening. This enables us to tap into two prime-time bands.”
NDTV also launched Indianroots, its e-commerce venture offering premium Indian ethnic brands, designs and creations to Indians across the globe.