NDTV reports Q1 net profit of Rs 10 cr

NDTV reports Q1 net profit of Rs 10 cr

Author | exchange4media News Service | Tuesday, Aug 02,2011 9:22 AM

NDTV reports Q1 net profit of Rs 10 cr

NDTV has reported a net profit of Rs 10 crore for the first quarter ended June 30, 2011, as against a loss of Rs 24 crore in the corresponding quarter of the previous fiscal. Standalone news revenues for Q1 FY12 rose by 52 per cent to Rs 117 crore (includes other income of Rs 21 crore) from Rs 77 crore (includes other income of Rs 1 crore) in Q1 FY11.

The financials of business have turnaround this quarter on the back of a wider portfolio of income and lower dependence on ad revenues.

Revenues of NDTV Convergence have nearly doubled compared to first quarter 2010. Application downloads remain buoyant with both the cricket and news apps emerging as leaders with over 650,000 downloads. A new stream of revenue opens up with mid-roll advertising, a first for a non-sports website in India. This feature is expected to boost video revenue by 100 per cent. On mobile phones, Convergence has launched a series of new Health and other VAS packages.

Compared to last year, the revenues of NDTV Worldwide have risen by 82 per cent. The business has expanded its service offerings into the regional markets across India and emerging markets in Asia. The company worked with the Beximco Group in Bangladesh to launch a world class 24-hour news and current affairs channel on July 28, 2011.

NDTV Lifestyle revenues increased by 40 per cent over same quarter last year. NDTV Lifestyle focused on preparing and setting the stage for a significant scale-up of its flagship channel, NDTV Good Times, this quarter. A distribution expansion exercise is underway and several ‘big shows’ are in the pilot and production stages.

Tags: NDTV | e4m

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