Broadcaster NDTV has reported a 9.13% fall in net losses to Rs. 118.5 million in the quarter ended September 2009 compared to the same quarter last year. Standalone income from operations fell a notch (6.17%) year on year to Rs. 693.5 million.
Initiatives to control expenditure (such as cost-cutting and layoffs) that came into effect last quarter and have continued their influence through the quarter with expenses rising marginally to Rs. 781.5 million compared to last quarter. Expenses have fallen 13.19% on a year on year basis. Subscription income grew 23% over the same quarter of the previous year. Its EBITDA loss has reduced to Rs. 27 million, down 73.6% from Rs. 102.3 million recorded in the quarter ended Sep08.
On a QoQ basis, standalone net losses multiplied almost 5 times to Rs. 118.5 million in the quarter ended September 2009 compared to Rs. 23.9 million recorded in the previous quarter. Net income has also reduced by 13.41% from Rs. 800.9 million recorded in June 09.
NDTV posted a 9.76% reduction in expenditure year on year to Rs. 2086.6 million in the quarter ended September 2009, which has led to a 43% improvement in EBITDA – the losses are now Rs. 591.1 million.
It has posted a consolidated net loss of Rs. 855.9 million, which is down 28.3% year on year, and income of Rs. 1403.7 million, up 16.71% year on year. These consolidated results include the group’s share in the profit of NDTV Studios, which amounted to Rs. 10.3 million for the quarter.
Business Performance & Key Corporate Developments
-Despite new entrants ET Now and Bloomberg-UTV stirring up the business news arena, NDTV claims its business news channel NDTV Profit retains its position behind CNBC-TV18 at the second rung. Quoting TAM Peoplemeter System, the company claims NDTV Profit had a certified reach of just over 26% compared with CNBC-TV18’s just over 30% during the quarter. The question is – will it be able to hold onto its position?
-According to a survey by Nielsen (UMAR survey) the group’s English news channel NDTV 24×7 had a viewership share of 60%, while competitors Times Now and CNN-IBN were at 28% and 12% respectively. NDTV Khabar (Hindi) has also risen to be the 3rd most popular Hindi news channel.
-NDTV Convergence, the digital arm of the company, has been witnessing “healthy traffic,” the company claims. The portal Ndtv.com added on-line education, travel e-commerce, astrology, books and gadgets e-commerce. Read: NDTV launches NDTV Astro in partnership with Astrolife.com and NDTV Launches Gaming Subsite Powered By Zapak
Note: No financials or performance indicators for the quarter for NDTV Convergence have been shared.
-Pramod Bhasin, CEO Genpact, joined the Board of NDTV.
-NDTV Group bought back NBC Universal’s 26 percent indirect stake in NDTV Networks Plc, the holding company of the non-news business.
-NDTV HINDU is now on DTH: Reliance BIG TV and Tata Sky
-Vikram Chandra took over as CEO of NDTV Convergence
– NDTV Convergence COO Salil Kumar Put In His Papers