NDTV Convergence, the NDTV Networks PLC (NNPLC) subisidiary which houses the digital properties from media group NDTV, has reported a loss after tax of Rs. 91.1 million for the full year ending 31st March 2009, up by 65.45 percent from the Rs. 55.068 million loss the company reported in the previous fiscal. This loss is in contrast with a turnover growth of 117.82%, from Rs. 49.128 million in 2007-08 to Rs. 107.011 million in 2008-09. Readers should note that for most of 2007-08 fiscal, NDTV Convergence had outsourced sales to NDTV Media, and sales was brought in-house in January last year. The turnover is, frankly, still quite small. To put things into context, Rediff.com did $3.95 million (around Rs. 190 million) in Indian Online revenues in the first quarter this year, while Web18 reported operating revenues of Rs. 142.10 million for the same period. NDTV Convergence did less in the last fiscal. But with an increase in turnover, one is likely to witness an increase in losses as well. There has been a change in the shareholding of NDTV Convergence: While at the end of FY09, NNPLC held 83 percent in NDTV Convergence, this was brought down to 75 percent at the end of FY09. NDTV Ltd owns 17 percent in NDTV Convergence. Two key executives have left NDTV Covergence over the last five months: first CEO Sanjay Trehan left in March to join Microsoft, then COO (Business) Salil Kumar followed suit a few weeks ago. No replacements have been announced yet.…
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