Broadcaster NDTV has reported a net loss (consolidated) of Rs 22 crore for the quarter ended 30th September 2011. Compared to the same quarter in 2010, when it had reported a loss of Rs 67.63 crore, the loss has decreased considerably, around 67.4% YoY. The company’s total income was Rs 108.25 crore an increase compared to total revenues of Rs 80.80 crore that it reported in Q2-FY11. Strangely, the latest results mention Q2 FY11’s total income as Rs 84. 27 crore.
– The company’s total expenditure also decreased from Rs 143.71 crore to Rs 128.57 crore, in the recently concluded quarter, although employee costs increased marginally to Rs 35.72 crore.
– The total income also includes dividend income of Rs 5.36 crore from the NDTV’s international subsidiary NDTV One Holdings Limited, which was approved to be amalgamated into NDTV.
Note: We had reported stand-alone results for Q1-FY12. The chart in this post features consolidated results for that quarter.
– Selling its stake in NDTV Hindu/Metronation: Both NDTV and Kasturi and Sons have 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. During the quarter, NDTV has provided for doubtful debts and advances to a total of Rs 2.3 crore and has written back provision for diminution in value of investment amounting to Rs 5.2 crore, which has been shown under the “Exceptional Items” column of the company’s results.
– Restructuring of International subsidiaries: According to NDTV, in order to simplify the structure of its International holdings, NDTV (Mauritius) Media Limited has been merged with NDTV One Holdings Limited with effect from 30th September 2011. NDTV acquired 90.91% stake in NDTV Worldwide Limited and NDTV Worldwide Limited has become a 100% subsidiary of the Company.
Also, the Board of Directors of NDTV (Mauritius) Multimedia Limited and NDTV Worldwide Mauritius Limited approved the merger of NDTV Worldwide Mauritius Limited with NDTV (Mauritius) Multimedia Limited on 31st October 2011.