NDTV narrows consolidated Q1 loss to Rs 24.04 crore
New Delhi Television Ltd (NDTV) today said its consolidated net loss has narrowed to Rs 24.04 crore in the first quarter ended June 30, 2013.
By PTI | Updated:
NEW DELHI: Media firm New Delhi Television Ltd (NDTV) today said its consolidated net loss has narrowed to Rs 24.04 crore in the first quarter ended June 30, 2013.
The company had posted a consolidated net loss of Rs 26.09 crore during the same period of the previous fiscal, NDTV said in a filing to BSE.
Consolidated income from operations stood at Rs 101.73 crore in the April-June quarter compared to Rs 105.58 crore during the same period last year.
"Traditionally, the April to June quarter is seasonally unfavourable for the media industry. This has been exacerbated by the economic downturn. Further, some of the benefits of Phase I and Phase II digitisation -- substantial reduction in carriage fees and significant increase in subscription revenues -- are yet to fully accrue," the company said.
The company is also relaunching its business news channel NDTV Profit in two phases. The first phase is near completion after moving the channel from Mumbai to Delhi. It would enhance synergies and contain expenses.
Under Phase II, NDTV Profit will remain a business channel during the day time. However, in the evening, it will transform into a completely new channel. The new channel is expected to be launched within the next few months.
"We are excited at the imminent relaunch of NDTV Profit. We are working on a unique concept. A business channel only attracts viewership in the day, when the markets are open. The relaunched channel will cover markets during the day, and high viewership programming in the evening. This enables us to tap into two prime-time bands," NDTV Group CEO Vikram Chandra said.
The company's shares closed today at Rs 93.45 apiece on BSE, up 19.04 per cent from the previous close.
The company had posted a consolidated net loss of Rs 26.09 crore during the same period of the previous fiscal, NDTV said in a filing to BSE.
Consolidated income from operations stood at Rs 101.73 crore in the April-June quarter compared to Rs 105.58 crore during the same period last year.
"Traditionally, the April to June quarter is seasonally unfavourable for the media industry. This has been exacerbated by the economic downturn. Further, some of the benefits of Phase I and Phase II digitisation -- substantial reduction in carriage fees and significant increase in subscription revenues -- are yet to fully accrue," the company said.
The company is also relaunching its business news channel NDTV Profit in two phases. The first phase is near completion after moving the channel from Mumbai to Delhi. It would enhance synergies and contain expenses.
Under Phase II, NDTV Profit will remain a business channel during the day time. However, in the evening, it will transform into a completely new channel. The new channel is expected to be launched within the next few months.
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"We are excited at the imminent relaunch of NDTV Profit. We are working on a unique concept. A business channel only attracts viewership in the day, when the markets are open. The relaunched channel will cover markets during the day, and high viewership programming in the evening. This enables us to tap into two prime-time bands," NDTV Group CEO Vikram Chandra said.
The company's shares closed today at Rs 93.45 apiece on BSE, up 19.04 per cent from the previous close.
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