Prannoy Roy promoted NDTV has recorded a net profit of Rs 12.55 crore in Q4 FY’06, an increase of 22 per cent, as compared to Rs 10.29 crore in the previous financial year. It has also clocked its highest ever revenues for Q4 at Rs 70.44 crore as compared to Rs 49.70 crore in the same quarter in the previous financial year, representing a 41.73 per cent year-on-year growth.
However, the net profit of the company in the last FY as compared to the previous FY has seen a decrease by Rs 8.93 crore, from Rs 36.46 crore to Rs 27.53 crore. “The decrease in profit is due to the huge capital investment on the launch of NDTV Profit,” a spokesperson of the company said.
It’s revenue for FY’06 has increased to Rs 223.90 crore as compared to Rs 179.8 crore for the previous fiscal, thus registering a growth of 24.49 per cent.
“We have not only strengthened our existing business, we have also forayed into several high growth areas, driven by the tremendous potential of our business, our people and our credibility” said Dr Prannoy Roy, Chairman of NDTV. “In this year, the company has put in significant investments into building new businesses and going forward we are committed to maximizing shareholder value by capitalizing on these investments,” he added.
The company has recently entered into an agreement with Genpact to jointly offer outsourcing services to the global media and entertainment industry. It has also entered the FM radio space through acquiring the Red FM brand from TV Today group.