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NDTV reports Q4 consolidated net loss at Rs 160.36 cr

NDTV reports Q4 consolidated net loss at Rs 160.36 cr

Author | exchange4media News Service | Friday, May 01,2009 8:56 AM

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NDTV reports Q4 consolidated net loss at Rs 160.36 cr

Bogged by slowdown and in a tough competitive environment, NDTV has reported consolidated revenues of Rs 123.30 crore for the fourth quarter ending March 31, 2009. Its Q4 consolidated net loss stood at Rs 160.36 crore.

NDTV’s FY09 net loss after ESOPS stood at Rs 73.18 crore. This includes the impact of one-time, non-recurring cost of Rs 40.45 crore. In FY08 NDTV had reported a net profit of Rs 4.28 crore.

In the face of the worst economic slowdown in the global and Indian economies, which has hit advertising expenditure severely, NDTV has taken a number of steps to reduce costs and increase revenues. These measures include making the operations more efficient; moreover, as a result of manpower planning and right-sizing, the cost and number of personnel at NDTV are targeted to be down by over 20 per cent in the immediate term. The management and staff at NDTV have accepted both salary cuts and no increments for the year.

Meanwhile, revenues are poised to grow on account of some new successful properties such as the Toyota Greenathon, 7 Wonders of India, the General Elections and the forthcoming Budget.

Tags: e4m

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