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NDTV Convergence FY10 Turnover Up 33.5%, Loss Down 93%

The financial year 2009-10 turned out to be a year of recovery for NDTV Convergence, the Internet and mobile company owned by the NDTV group, as the company reported a loss of only Rs. 64.3 lakh for the fiscal, down from a loss of Rs. 9.11 crore the previous financial year, according to NDTV's financial report. The company was helped by a 33.47% increase in turnover, which rose to Rs. 14.28 crore, from Rs. 10.7 crore the previous fiscal year. Now 14.28 crore is still rather small - some of NDTV Convergence's peers do that much revenue in a quarter: Web18*, owned by the Network18 group, reported Rs. 72.82 crore for the same period, but also reported losses of Rs. 9.27 Cr. So it is worth scaling revenues and at the same time, increasing expenses to such a level? NDTV, a BSE listed entity owns 17% in NDTV Convergence, while NDTV Networks PLC owns 75%. According to NDTVs annual report, NDTV.com crossed the 100 million pageviews mark for the first time in December 2009, and has managed to stay above that mark since. Key developments during the year: - Vikram Chandra took over from former NDTV Convergence CEO Sanjay Trehan, who joined MSN India - NDTV launched NDTV Social, a portal to connect NDTV journalists and anchors with viewers, integrating facebook and twitter - Arunava Sinha, Chief Product Officer at NDTV Convergence left to join Web18 as head of IBNLive and CricketNext. IBNLive subsequently revamped to a design similar to NDTV.com's, and…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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