NDTV’s Q2 loss narrows to Rs 63.5 crore; board clears Rs 800 crore fundraising plan

New Delhi Television Ltd (NDTV) reported a consolidated net loss of ₹63.51 crore for the quarter ended September 30, 2026, compared with a loss of ₹74.01 crore in the year-ago quarter, as the broadcaster’s operating revenue grew even as expenses remained elevated.

The company’s consolidated revenue from operations increased 5.9% year-on-year to ₹129.47 crore in the September quarter, from ₹122.27 crore a year earlier. Total income, including other income, rose to ₹134.34 crore from ₹124.96 crore, according to its unaudited financial results approved by the board on October 26.

NDTV’s total expenses stood at ₹198.50 crore during the quarter, marginally higher than ₹197.90 crore in the corresponding period last year. The company reported a consolidated loss before tax of ₹63.51 crore, against ₹72.69 crore a year earlier.

The broadcaster’s standalone net loss narrowed to ₹59.03 crore in the September quarter from ₹76.37 crore in the year-ago period. Standalone revenue from operations rose 22% to ₹83.44 crore from ₹68.38 crore.

Alongside its quarterly results, the company’s board approved raising funds of up to ₹800 crore through the private placement of unsecured, non-convertible perpetual debentures, in one or more tranches, subject to the requisite regulatory and statutory approvals.

The proposed issue comprises up to 80,000 debentures with a face value of ₹1 lakh each. The instruments will be perpetual, with no fixed maturity date, and will not be listed on stock exchanges.

The debentures will carry a cumulative coupon of 9% per annum, payable if and when declared by the board at its sole discretion. The proposed securities will be unsecured, meaning they will not be backed by a specific charge over the company’s assets.

The proposed fundraising comes as NDTV continues to report operating losses. For the six months ended September 30, 2026, the company posted a consolidated net loss of ₹145.39 crore, compared with ₹144.32 crore in the corresponding period of the previous year.

Consolidated revenue from operations for the first half of FY27 increased 7.3% to ₹246.70 crore from ₹229.92 crore a year earlier. Total expenses rose to ₹400.06 crore from ₹380.57 crore, while the loss before tax stood at ₹145.39 crore, against ₹142.71 crore in the year-ago period.

Employee benefit expenses were ₹50.30 crore in the September quarter, compared with ₹46.47 crore a year earlier. Production expenses and cost of services rose to ₹62.44 crore from ₹51.67 crore, while marketing, distribution and promotional expenses declined to ₹43.71 crore from ₹58.06 crore.

Finance costs fell to ₹7.69 crore from ₹9.93 crore in the corresponding quarter last year.

NDTV’s consolidated cash and cash equivalents stood at ₹5.15 crore as of September 30, 2026, compared with ₹14.88 crore at the end of March 2026. Its consolidated borrowings comprised ₹274.08 crore in non-current borrowings and ₹21 crore in current borrowings.

The company also disclosed that it had signed an asset purchase agreement on August 14, 2026, with Lifestyle & Media Broadcasting Ltd for the acquisition of the GoodTimes channel and associated intellectual property rights. The transaction remains subject to closing conditions, including requisite approvals from the Ministry of Information and Broadcasting.

The acquisition follows a binding term sheet signed between the parties on September 19, 2025.

NDTV’s financial results also disclosed the status of certain legacy tax and regulatory matters. A tax demand of ₹420.36 crore relating to assessment year 2008-09 was revised in March 2026, with the company stating that it had been granted a complete stay on the demand through an order dated April 28, 2026.

The company also said a 2019 Central Bureau of Investigation first information report concerning certain investments in group subsidiaries during 2004-10 remained under investigation. The allegations relate to funds allegedly routed into India through multiple layers of transactions and shell entities.