NDTV Convergence has reported its first ever profit of Rs. 1.159 crore on a turnover of Rs 21.17 crore, for the financial year 2010-11 (FY11), on the back of a 48.24% year on year increase in revenues. NDTV Ltd claims in its annual report that its portfolio of sites (NDTV.com, NDTV Profit, Khabar, Movies, Cricket, Doctor, Cooks, Good Times and Tubaah) recorded pageviews of 286 million in March 2011, and that its iPad and iPhone apps have
witnessed 200,000 downloads since launch.
The company has set itself some pretty major targets:
– close to a billion pageviews by the end of the year
– streaming a billion minutes of content in this year.
These have been two years of revival for the company, from the lows of FY09, when it had posted Rs 10.7 crore in turnover, and a loss of Rs 9.1 crore. It would undoubtedly have been helped by an improvement in the overall advertising scenario, like its peers such as Rediff and Web18 have been, although, its revenues are substantially lower than those of its peers.
During the financial year, NDTV Ltd, through its subsidiary NDTV Networks Limited purchased the stake held by NDTV Networks Plc (NNPLC) in NDTV Convergence. Shares of other companies held by NNPLC have also been transferred to step down subsidiaries in India. NNPLC was put under liquidation on March 28, 2011.
Download NDTV Ltd’s FY11 Annual Report here.
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