Broadcaster NDTV has reported a net loss (consolidated) of Rs 26.09 crore for the quarter ended 30th June 2012, a 36.87% decrease in loss from the previous quarter where it had reported 41.33 crores loss but a 45.1% increase in loss from Rs 17.98 crores in the same quarter in 2011. The company’s total income was Rs 106.83 crores for the quarter, a decrease from Rs 137.96 crores revenues in Q4-FY11 and Rs 109.93 crores revenue in Q1-FY12.
The company’s total expenditure stood at Rs 132.56 crores during the quarter, an increase from Rs 128.66 crores in the same quarter last year, while employee costs decrease marginally to Rs 37.02 crores from Rs 38.47 crore in Q1-FY12.
- Selling its stake in NDTV Hindu/Metronation: Both NDTV and Kasturi and Sons had sold their respective stake (NDTV’s stake was 51%) in Metronation Chennai or NDTV Hindu to Educational Trust Company Private Limited, promoters of the Tamil Daily ‘Dina Thanthi’, for Rs 15 crore. However, NDTV said that it continues to hold 51% stake in Metronation, hence its consolidated results includes the financial results of Metronation. During the last fiscal, NDTV has written back a total of Rs 2.09 crore as a provision for doubtful debts.
- Restructuring of International subsidiaries: In the previous quarter, NDTV had stated that, in order to simplify the structure of its International holdings, NDTV Networks Plc, the UK subsidiary of the company was liquidated w.e.f October 2011. NDTV (Mauritius) Media Limited was merged with NDTV One Holdings Limited with effect from 30th September 2011 and the merger of NDTV worldwide Mauritius and NDTV (Mauritius) Multimedia is in process. NDTV had acquired 90.91% stake in NDTV Worldwide Limited and NDTV Worldwide Limited has become a 100% subsidiary of the Company.
Download – Financials
- NDTV Convergence To Merge With NDTV Labs; NDTV Q4-FY12 Loss At Rs 41.33 Crore
- NDTV Q2-FY12 Loss At Rs 22 Crore; Selling Out Metronation Chennai
- Senior Management Changes At NDTV; Rs 9.81 Cr Profit
- NDTV Convergence Reports Maiden Profit Of Rs 1.16 Cr In FY11