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NDTV reports Rs 120 cr net loss in Q3, revenues up 12 pc at Rs 131 cr

24-January-2009
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NDTV reports Rs 120 cr net loss in Q3, revenues up 12 pc at Rs 131 cr

NDTV Ltd has reported a Q3 loss of Rs 120 crore from a loss of Rs 32.02 crore in the corresponding quarter of FY08. The company’s consolidated revenues stood at Rs 131 crores during the quarter compared to Rs. 108.50 crore during the same quarter in the previous year, a growth of 21 per cent year-on-year.

According to NDTV, the change in the external environment and the economic downturn had resulted in a visible slowdown in advertising revenues not just for NDTV, but for the industry as a whole. The company has already initiated major rationalisation of costs on all fronts – distribution, personnel and administration, to improve efficiency and streamline operations.

The Group has cash balances of over Rs 400 crore, net of all debt, to meet any future business expense requirements, including new programming and developments.

NDTV Ltd has received confirmation of no objection from the stock exchanges (BSE, NSE) for the de-merger of news and entertainment businesses. The company is also filing the scheme with the Delhi High Court.

Business channel NDTV Profit has not only maintained its market share, in digital homes it has captured 50 per cent of the viewership. The company has signed up subscription agreements on both domestic and international platforms, including new DTH players. Going forward, subscription revenues are likely to contribute a higher percentage to the topline.

In this quarter, NDTV has also signed up agreements to distribute UK’s biggest commercial broadcaster Granada TV and Trace Television, world’s No. 1 urban music channel, in India and South Asia.

For much of November, all general entertainment channels were running repeat programming due to a stand-off between the programme producers and TV Workers’ Union, which affected revenues.

NDTV Good Times continues to retain its position, in the lifestyle genre in India.

NDTV Lifestyle’s foray into the international distribution and syndication market continues to be successful.

Also read:

The Meltdown: NDTV tightens belt; freezes hirings, 20 pc pay cuts for top management

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