The Hindu Business Line : NDTV posts Rs 13-cr Q2 loss

New Delhi, Oct.15 Despite standalone losses of Rs 13 crore in the second quarter, NDTV maintains that it is holding up well given the current economic situation. “The most significant part is that we have more than Rs 650 crore reserves which is good thing today, given the credit crunch in the market place,” said Mr Narayan Rao, Group CEO, NDTV.

The media network reported Rs 13-crore loss for the quarter ended September 30, as against a loss of about Rs 4 crore reported in the corresponding quarter last year. Income from operations grew by 0.9 per cent to Rs 74 crore (Rs 67.8 crore). Advertising revenue has grown marginally, but the coming festive season during which consumer durable advertising peaks would see an improvement, hopes the company. “Costs are on the higher side, but we are working on improving operating efficiencies,” added Mr Rao.

On a consolidated basis, for the quarter ended September 30, the group posted a net loss Rs 119.4 crore as compared with a net loss Rs 25.3 crore posted for the corresponding quarter the previous year. Income from operations grew by about 68 per cent to about Rs 120 crore (Rs 72 crore). “ The network recently launched a world cinema channel under the entertainment business. The company also plans to launch MetroNation in Chennai by December or by this fiscal end.

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