NDTV Group has reported sharp increase in its revenues and profits in its Q3 results, while quarter on quarter revenues were up by 46 per cent to Rs 79 crore, quarter on quarter profits were up at Rs 4.90 crore against a loss of Rs 3.70 crore in the previous quarter. The year-on-year profit was up 85 per cent.
Speaking to exchange4media NDTV Chairman, Dr Prannoy Roy, said, “We have major expansion plans. We are on track to launch our Malaysian joint venture channel in beginning of April. We are also launching NDTV Metro Nation, which will be funded through debt equity, It is slated for launch in March. We are launching it first in Delhi, Mumbai, Kolkata and Bangalore. The first roll out will be in Delhi then the other cities. The channels would be a mixture of sports and local events. We are still fine-tuning details regarding content, distribution and pricing.”
He further said, “We will be launching our Hindi entertainment channel by April. NDTV Ventures is also getting ready to launch a slew of non-news TV channels.”
As reported earlier, NDTV had tied up with film-maker Karan Johar for the Hindi general entertainment channel. Johar’s production house, Dharma Productions, will hold a small equity stake in the channel. He will also be on the Board of NDTV Entertainment and will work on the content of the channel along with being a host of other shows for NDTV Entertainment. He will help originate concepts and new programming ideas for the channel and will be an ambassador for the NDTV Entertainment brand. Dharma Productions will exclusively produce shows for the new channel, which will have the first right of refusal on any programmes that Dharma produces for television.
Roy added, “NDTV Networks has already made an application to the Foreign Investment Promotion Board (FIPB) for approval few days back that it includes non-news activities. The company is launching a company in the UK next month in order to launch the Hindi entertainment channel there. NDTV Networks Plc, UK, which owns a stake in the Indian company, will launch the channel.”
Meanwhile, NDTV’s Indonesian JV (Astro Awani), which was launched in October 2006, also made a profit in the third quarter.