The Prannoy Roy-promoted NDTV has has reported a profit after tax of Rs 7.63 crore for the first quarter compared with a loss of Rs 20.55 crore registered the previous year. The company's gross profits stood at Rs 12.57 crore against a loss of Rs 18.3 crore.
It also registered a 437 per cent increase in income to touch Rs 40.53 crore for the first quarter ended June 2004 compared with Rs 7.55 crore registered during the corresponding period the previous year.
According to a company statement, the sharp improvement in NDTV's performance is a result of improved and rising viewership. "NDTV 24x7 is now the clear leader among English news channel, and NDTV India is now a close number two in the Hindi news channel space. The revenues this quarter were also assisted by the general elections," said the company.
The news broadcaster has also managed to grow its advertising base to 416 advertisers and 755 brands.